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Weatherly Oil & Gas LLC retained EnergyNet for the sale of assets located within the Haynesville shale play in northern Louisiana through a sealed-bid offering closing June 26.
The offer comprises operated and nonoperated working interests in multiple properties, including producing wells, plus leasehold in the Bethany-Longstreet Field in Caddo and DeSoto parishes, La.
- Operated Working Interest in 77 Properties (48 Wells):
- 100.00% to 94.41667% Working Interest / 80.00% to 60.749687% Net Revenue Interest
- 29 Wells Completed in Multiple Formations
- 57 Producing Properties | One Saltwater Disposal | 19 Shut-In Properties
- Nonoperated Working Interest in the Johns #1A (Shut-In):
- 7.152088% Net Revenue Interest
- Operator: Vernon E. Faulconer
- Six-Month Average 8/8ths Production: 1.503 million cubic feet per day of Gas
- Six-Month Average Net Cash Flow: $18,711 per Month
- 8,551.80 Net Leasehold Acres
Bids are due by 4 p.m. CDT June 26. For complete due diligence information energynet.com or email Michael Baker, vice president of business development, at Michael.Baker@energynet.com, or Denna Arias, director of transaction management, at Denna.Arias@energynet.com.
Success in those projects would result in its reserve base reaching 3.7 billion barrels over the next seven years and help Woodside expand production by 6% a year over the next decade, the company said.
Output at the largest formation, the Permian Basin of Texas and New Mexico, is expected to rise 57,000 bbl/d to 4.73 MMbbl/d.
Plans are for the well, which was drilled into two untested fault blocks east of the Cashima Field, to be completed by the end of November, the company said.