Kerogen Resources, Traingle Petroleum Corp.
NEW, Kerogen Resources and Triangle Petroleum Corp. have retained Tristone Capital Inc. to sell interests in the Fayetteville shale in the Arkoma Basin in Arkansas. The sale represents an exit from the area by the two companies. The package includes a combined 68.1% working interest in approximately 29,458 gross (20,058 net) acres in a geographically concentrated area, mostly in southwestern Conway County and also Faulkner County. Kerogen is operator. The acreage contains no producing wells. Economic pro forma assumes a 180-well drilling program with four wells per section. The bid due date is Aug. 8. The effective date is July 1. Contact Rob Bilger, 713-651-4200.