Marketed: Greentown Oil Utah Paradox Basin Producing Properties

Transaction Type
Sellers
Marketers
Basin
Paradox Basin
Field
Greentown Field
Announce Date
Post Date
Close Date
Estimated Price
MM
Description

The following information is provided by Oil & Gas Asset Clearinghouse LLC. All inquiries on the following listings should be directed to Clearinghouse. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.

Greentown Oil Co. LLC retained Oil & Gas Asset Clearinghouse LLC for the sale of Utah producing properties in the Paradox Basin through a sealed-bid offering.

The offer includes 5,794 net mineral acres HBP in the Greentown Field in Grand County, Utah.

Highlights:

  • Working Interest 85% to 100%, Net Revenue Interest 67.5% to 87.5%, Royalty Interest 12.5% to 16.6% and Overriding Royalty Interest 0.3% to 5%
  • Selling leasehold, existing wellbores, and a gathering system with a gas plant
  • Two additional wellbores completed and waiting for connection
  • Currently monthly cash flow of about $8,000 for transmitting gas in their line
  • Average monthly net cash flow of about $10,300 (January through December 2018)
  • Sale subject to “first right of refusal” under the pipeline transportation agreement

Bids are due May 1. For information visit ogclearinghouse.com or contact Patrick DaPra, vice president of negotiated transactions for Clearinghouse, at pdapra@ogclearinghouse.com or 832-60-7655.