EOG Resources Inc.

Transaction Type
Sellers
Marketers
Basin
Washakie
Field
Cepo, N. Dripping Rock, Cedar Chest
Post Date
Close Date
Estimated Price
0MM
Description

Houston-based EOG Resources Inc. has retained Meagher Energy Advisors to sell certain oil and gas interests and associated operations in the southeastern Washakie Basin in Wyoming.

The package involves a multi-pay development drilling opportunity in 9,434 gross acres (6,147 net acres), comprising the Cepo, N. Dripping Rock and Cedar Chest fields. The properties contain 14 operated wells and four nonoperated wells, with projected net production of 103 million cubic feet and projected net monthly cash flow of $270,000.

The wells are currently producing from the Lewis, Almond and Fort Union formations. Estimated probable and possible net reserves are 2.7 million barrels of oil and 180.6 billion cubic feet.

Upside includes 88 Fort Union drilling locations, with an estimated 2.4 billion cubic feet; 15 Lewis drilling locations, with an estimated 3.2 billion cubic feet; and 17 Almond drilling locations, with an estimated 7.2 billion cubic feet. Offset operators are utilizing a 20-acre Fort Union spacing. Recompletion potential includes five Fort Union/Lance recompletions and seven Lance/Lewis recompletions. Proprietary seismic is available for review.

The deal is expected to close by Dec. 3. The bid due date is Oct. 1. The effective date is Dec. 1. Contact Julia Foster, 303-721-6354, ext. 229, jfoster@meagheradvisors.com.