Bridge Resources,Paramax Resources Ltd.

Transaction Type
Western Idaho
Willow, Hamilton
Post Date
Close Date
Estimated Price

Bridge Resources and Paramax Resources Ltd. have retained Meagher Energy Advisors to sell certain assets in Idaho and Oregon.

The first package includes 100% working interest (80% net revenue interest) in approximately 36,000 acres of development acreage (on 160-acre spacing) in Willow and Hamilton fields in the Western Idaho Basin. The fields produce from depths of 1,800- to 4,100 feet and include pipeline rights of way, pipe and CUP to achieve first production quickly.

Acreage is 75% fee and 25% state/federal ownership. Willow Field has tested sweet gas and condensate with four potential pay horizons in traditional clastic reservoirs. Estimated EUR is 1- to 6 billion cubic feet per well. Hamilton Field has tested gas from laterally continuous stacked lacustrine turbidites at depths of 1,800 feet with an estimated EUR of 1- to 2 billion cubic feet per well.

Proved and probable reserves are 2.2 million barrels of oil equivalent.

The Fields are adjacent to Northwest/Williams gas pipeline with 1.3 billion-cubic-feet-per day capacity. Completion of 300 megawatt Langley Gulch Power Station in 2012 with a daily requirement of 50 million cubic feet per day will add additional market.

Bridge/Paramax utilized drilled 11 wells in 2010.

The second package includes 80,000 net acres in close proximity to Willow and Hamilton fields offered on an alternative deal structure. Bridge is seeking development proposals such as farmout or other drill-to-earn type deals.

The bid due date is Dec. 13. The effective date is Jan. 1. Contact Julia Foster, 303-721-6354 ext. 229,