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XTO Energy Inc., an affiliate of Exxon Mobil Corp., retained EnergyNet for the sale of a Uinta Basin well package through a sealed-bid offering closing Jan. 15.
The offer includes operations, nonoperated working interest and overriding royalty interest (ORRI) in an 861 well package plus about 90,000 net leasehold acres in Carbon, Duchesne, Summit and Uintah counties, Utah.
- Operations in 605 Wells
- 100.00% to 50.00% Working Interest / 87.50% to 41.00% Net Revenue Interest (Before Payout)
- Includes 7.50% to 6.50% ORRI (Before Payout) in 19 Wells
- 558 Producing Wells | Three Active Injectors
- 37 Shut-In Wells | Three Temporarily Abandoned | Four Plugged and Abandoned
- Nonoperated Working Interest in 256 Wells
- 75.00% to 7.7295% Working Interest / 61.3125% to 6.4019% Net Revenue Interest
- Includes 23.4413% to 0.0731% ORRI in 216 Wells
- 227 Producing Wells | Three Active Injectors
- 25 Shut-In Wells | One Status Not Available
- Operators include Citation Oil & Gas Corp., EnerVest Operating LLC, EOG Resources Inc., Merit Energy Co. and Wapiti Operating LLC
- Six-Month Average 8/8ths Production: 41.467 million cubic feet per day of Gas and 540 barrels per day of Oil
- Six-Month Average Net Income: $224,718 per Month (Operated Properties Only)
- 89,839.07 Net Leasehold Acres
Bids are due by 4 p.m. CST Jan. 15. For complete due diligence information visit energynet.com or email Cody Felton, vice president of business development, at Cody.Felton@energynet.com, or Denna Arias, director of transaction management, at Denna.Arias@energynet.com.
Per-acre prices varied widely between $15 an acre and $11,353 an acre.
The Austin Chalk assessment, which includes the Tokio and Eutaw formations, is believed to also hold about 41.5 trillion cubic feet of natural gas, the report shows.
The wells were drilled by the Transocean Barents semisubmersible rig this summer in the Flemish Pass Basin.