Headington Oil Co.

Transaction Type
Sellers
Marketers
Basin
Illinois
Post Date
Close Date
Estimated Price
MM
Description

Headington Oil Co. has retained Meagher Energy Advisors to offer certain operated oil-producing properties in the Illinois Basin in Hamilton and White countries, Illinois.

The package consists of 76.7% working interest (62.4% net revenue interest) in the North Bungay waterflood unit that includes six oil wells and two injector wells; 100% working interest (82% net) in the Mill Shoals West Waterflood Unit that includes 25 oil wells, two saltwater disposal wells and three injectors; and an average 99% working interest (75.1% net) in an additional 17 oil wells and three saltwater disposal wells.

October production is expected to total 4,669 gross barrels (3,285 net). Production is from the Aux Vases, McClosky and Cypress formations. The properties also contain three drilling locations directly offsetting the Allen Gray and Fox wells.

Estimated proved developed production reserves as of Oct. 1, 2010 is expected to be 372,000 barrels of oil.

Bids are due Sept. 16. The effective date is Oct. 1. Contact Julia Foster at (303) 721-6354 ext. 229.