Riverbend Exploration & Production LLC has hired Raymond James | Albrecht to sell its non-operated working interest in the Permian Basin and the Fayetteville shale.
The portfolio of non-operated working interests has acreage in three distinct areas with stable gas production and organic oil growth. The estimated March 2013 net cash flows from the acreage is about $2.1 million.
Within the Permian Basin, the assets target the Wolfberry with experienced operators. The estimated net production in March 2013 is 600 barrels of oil equivalent (BOE) per day.
Within the Fayetteville shale, the operators include Southwestern Energy Co. (NYSE: SWN), XTO Energy and BHP Billiton Ltd. (NYSE: BHP). The March 2013 estimated net production is about 13.3 million cubic feet per day.
In addition, the seller is offering a separate diversified set of assets with predictable, low-risk profile with exposure to multiple basins, operators and development stages. The March 2013 net production from the diversified package -- which includes acreage in Texas, Oklahoma, New Mexico, Colorado, Louisiana, Mississippi, Utah, Wyoming North Dakota and Montana -- is about 1.5 million cubic feet equivalent (MMCFE) per day.
The data room is scheduled to open in late April with final offers due by mid June. For additional information, contact Chris Simon at Raymond James | Albrecht: 713-278-5206 or chris.simon@raymondjames.com.
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