Protégé Energy III LLC is offering certain properties in the Utica/Point Pleasant fairway in Southeast Ohio through a sale handled by Wells Fargo Securities.
The offer includes an operated land position covering 16,700 net contiguous acres along the wet-dry gas phase boundary in Washington County, Ohio, as well as a de-risked inventory of 85 locations.
- 16,700 net contiguous acres along the wet-dry gas phase boundary;
- Stacked-pay prospective for the Utica, Point Pleasant, and Trenton formations; and
- Planned units facilitate multiwell pads with extended reach laterals.
- 85 locations with average lateral length of 9,200 ft at 1,000-ft spacing;
- Lease net revenue interests of up to 82.5%;
- Largely undedicated acreage, allowing for competitive midstream solution, Wells Fargo said; and
- Regional gas take-away capacity growing in 2017/2018 expected to substantially reduce differentials, according to Wells Fargo.
Protégé is an EnCap-back E&P based in Tulsa, Okla. The company has operations in the Appalachian Basin, South Texas, Permian Basin and Midcontinent.
Bids are due April 12. Data rooms will be open from March 13 through April 7.
For information contact Megan Ebadat, associate with Wells Fargo, at 713-346-2762.
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