CrownQuest Operating LLC

CrownQuest Operating LLC has retained BMO Capital Markets to sell certain Permian Basin interests in the Iatan-East Howard Field in Texas.

The assets include 91.6% working interest (78.4% net revenue interest) in 7,475 net acres in Howard and Mitchell counties, targeting primarily the Clearfork, San Andres and Wolfcamp formations.

Production is approximately 1,012 barrels of oil equivalent per day. Proved reserves are 15.1 million barrels equivalent (9 million proved developed producing). CrownQuest prefers to sell the assets as one transaction for cash.

The bid due date is Feb. 7. The deal is expected to close in March. Contact Miles Redfield, 713-546-9715, miles.redfield@bmo.com.