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QEP Energy Co., subsidiary of QEP Resources Inc., retained EnergyNet for the sale of Kentucky and Michigan asset packages in auction closing March 5.
In Kentucky, QEP is offering producing mineral and royalty interests and overriding royalty interest (ORRI) in 21 properties plus non-producing minerals located in various counties. Meanwhile, the Michigan package includes ORRI and producing mineral and royalty interests in 12 wells plus HBP leasehold acreage located in Grand Traverse, Ingham, Isabella, Lake, Manistee, Mecosta and Otsego counties.
For complete due diligence information visit energynet.com or email Ryan P. Dobbs, vice president of business development, at Ryan.Dobbs@energynet.com, or Denna Arias, vice president of corporate development, at Denna.Arias@energynet.com.
Kentucky Property Highlights:
- 7,416.50 Net Mineral Acres:
- 6,671.93 Net Non-Producing Minerals
- 744.57 Net Producing Minerals
- Royalty Interest in 13 Properties:
- 9.375% to 0.27764% Royalty Interest
- 12 Producing Properties | One Non-Producing Property
- ORRI in Eight Producing Properties:
- 5.46875% to 0.272116% ORRI
- Six-Month Average 8/8ths Production: 38 barrels per day (bbl/d) of Oil and 98,000 cubic feet per day of Gas
- Six-Month Average Net Income: $1,364 per Month
- Select Operators include Nicholas A & Darry R Cain, Countrymark Energy Resources LLC, Robinson Engineering & Oil Co. Inc. and Vinland Energy Operations LLC
Bids are due by 2:10 p.m. CST March 5.
Michigan Property Highlights:
- Royalty Interest in Eight Properties:
- 3.375% to 0.26992% Royalty Interest
- An Additional 0.626% to 0.050037% ORRI in Three Properties
- Six Producing Properties | Two Non-Producing Properties
- ORRI in Four Producing Properties:
- 12.50% to 2.00% ORRI
- Six-Month Average Net Income: $1,869 per Month
- Six-Month Average 8/8ths Production: 124 bbl/d of Oil and 592,000 cubic feet per day of Gas
- 190.70 Net Producing Mineral Acres
- 187.96 Net HBP Leasehold Acres
- Operators include Breitburn Operating LP, Lambda Energy Resources LLC, Maverick Exploration & Production Inc., Ranch Production LLC and Summit Petroleum Corp.
Bids are due by 2:15 p.m. CST March. 5.
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