Luff Exploration Co.

Transaction Type
Sellers
Marketers
Basin
Williston
Field
North Sioux Pass
Post Date
Close Date
Estimated Price
MM
Description

Luff Exploration Co. has retained Meagher Energy Advisors to sell certain assets in North Sioux Pass Field in Montana with potential assets in the Middle Bakken and Three Forks formations.

The package includes significant majority working interest (average 86.5% or better net revenue interest) in 13,900 gross (10,000 net) acres in Richland County. The assets feature conventional production from 11 wells and one overriding royalty interest in a non-operated well.

Net production is approximately 225 barrels of oil equivalent per day. The assets feature existing three-phase electric service, two salt-water disposal systems and third-party gas-gathering systems. Also, there is approximately 20 square miles of 3-D seismic and more than 400 miles of reprocessed 2-D seismic.

Upside includes behind-pipe and additional conventional drilling and completion targets including Nisku (Birdbear), Ratcliffe, and Red River formations.

The data room opens Oct. 11. The bid due date is Nov. 5. The effective date is Dec. 1. Contact Julia Foster, 303-721-6354 ext. 229, jfoster@meagheradvisors.com.