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Vanguard Natural Resources Inc. retained EnergyNet for the sale of Oklahoma oil and gas assets across several counties through a sealed-bid offering.
The offer includes operated and nonoperated interests in multiple wells plus royalty and overriding royalty interests in Carter, Johnson, Love, Marshall and Stephens counties, Okla. Select operators of the nonoperated properties include Cimarex Energy Co. and Exxon Mobil Corp. subsidiary, XTO Energy Inc.
- Operations in 21 Wells:
- 75.16% to 56.60% Working Interest / 63.96% to 43.61% Net Revenue Interest
- 18 Producing Wells | 3 Non-Producing Wells
- Nonoperated Working Interest in 37 Properties (Multiple Wells):
- 67.69% to 0.39% Working Interest / 59.23% to 0.39% Net Revenue Interest
- 30 Producing Properties | 7 Non-Producing Properties
- Select Operators include Cimarex Energy Co., Citation Oil and Gas Corp. and XTO Energy Inc.
- 12.26% to 0.01% Royalty Interest or Overriding Royalty Interest in 103 Properties (Multiple Wells):
- 79 Producing Properties | 23 Non-Producing Properties | 1 Temporarily Abandoned Well
- Select Operators include Arch Oil and Gas Co., Citation Oil and Gas Corp., Kaiser-Francis Oil Co. and Marathon Oil Co.
- Six-Month Average Net Income: $239,992 per Month
- Six-Month Average 8/8ths Production: 1,745 barrels per day of Oil and 4.743 million cubic feet per day of Gas
- 1,735.494 Net Leasehold Acres
Bids are due at 4 p.m. CST March 19. For complete due diligence information energynet.com or email Heidi Epstein, manager of business development, at Heidi.Epstein@energynet.com, or Denna Arias, director of transaction management, at Denna.Arias@energynet.com.
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