Marketed: QEP Resources Montana Properties, Minerals, Royalties

Transaction Type
Marketers
Basin
Williston Basin/Bakken
Announce Date
Post Date
Close Date
Estimated Price
MM
Description

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

An affiliate of QEP Resources Inc. retained EnergyNet for the sale of oil and gas assets throughout Montana including in the Williston Basin and Bakken shale play in auctions closing June 5-6.

The offer is comprised of three packages consisting of nonop working interest, overriding royalty interest (ORRI), royalty interest and minerals plus leasehold in various counties in Montana. Counties noted include Dawson, Richland, Roosevelt, Sheridan and Wibaux.

For complete due diligence information energynet.com or email Ryan Dobbs, vice president of business development, at Ryan.Dobbs@energynet.com, or Denna Arias, director of transaction management, at Denna.Arias@energynet.com.

Lot 57342

EnergyNet has been retained by QEP Energy Co. to offer for sale a 71 property package (nonoperated, ORRI and royalty interest) plus minerals and leasehold located in Dawson, Richland, Roosevelt, Sheridan and Wibaux counties, Mont.

Highlights:

  • Nonoperated Working Interest in 31 Properties:
    • 8.67835% to 0.043935% Working Interest / 8.6735% to 0.036246% Net Revenue Interest (Before Payout)
    • Nine Properties have After Payout Working Interest Only
    • Three Properties have 0.938844% to 0.05537% Royalty Interest Before Payout and Working Interest After Payout
    • 26 Producing Properties | Four Shut-In Properties | One Property waiting on Plug and Abandon
    • Select Operators include Continental Resources Inc., Oasis Petroleum North America LLC, Whiting Oil and Gas Corp. and XTO Energy Inc.
  • ORRI in 15 Properties:
    • 0.695331% to 0.003744% ORRI
    • 14 Producing Properties | One Shut-In Property
    • Select Operators include Continental Resources Inc. and Newfield Production Co.
  • Royalty Interest in 25 Properties:
    • 9.375% to 0.088017% Royalty Interest
    • 23 Producing Properties | Two Shut-In Properties
  • Select Operators include Continental Resources Inc., Enerplus Resources USA Corp. and White Rock Oil & Gas LLC
  • Six-Month Average 8/8ths Production: 1,956 barrels per day (bbl/d) of Oil and 3.039 million cubic feet per day of Gas
  • Seven-Month Average Net Cash Flow: $9,386 per Month
  • 1,874.96 Net HBP Leasehold Acres
  • 3,663.67 Net Mineral Acres:
    • 1,173.64 Net Producing Minerals
    • 2,490.04 Net Non-Producing Minerals 

Bids are due by 2 p.m. CDT June 5.

Lot 57325

EnergyNet has been retained by QEP Energy to offer for sale a 169 property package (nonop working interest, ORRI, non-participating royalty interest and producing/non-producing minerals of 19,904.74 net mineral acres) plus leasehold (7,976.18 net acres) located in various Montana counties.

Highlights:

  • 19,904.74 Net Mineral Acres
    • 16,359.38 Net Non-Producing NMA
    • 3,545.36 Net Producing NMA
  • 7,976.18 Net Leasehold Acres
  • Royalty Interest in 93 Properties:
    • 8.495% to 0.015625% Royalty Interest
    • An Additional 2.8125% ORRI in Three Properties
    • 63 Producing Properties | 16 Non-Producing Properties | 14 Shut-In Properties
  • ORRI in 72 Properties:
    • 14.328125% to 0.01977% ORRI
    • The Spencer 1-34 Converts to Working Interest After Payout
    • 57 Producing Properties | Four Non-Producing Properties | 11 Shut-In Properties
  • Nonoperated Working Interest in Two Producing Properties:
    • 64.46723% Working Interest / 51.89608% Net Revenue Interest in the Judeman 11-1 Well
    • 29.80971% Working Interest / 26.083495% Net Revenue Interest / 3.741586% Royalty Interest in the Slemaker 16-5 Well
  • Non-Participating Royalty Interest in Two Non-Producing Properties:
    • 0.08772% Non-Participating Royalty Interest
  • 12-Month Average Net Income: $1,536 per Month
  • Six-Month Average 8/8ths Production: 125 bbl/d of Oil and 525,000 cubic feet per day of Gas
  • Select Operators include Croft Petroleum Co., Omimex Canada Ltd. and Taylor Well Operating

Bids are due by 2:05 p.m. CDT June 5.

Lot 57349

EnergyNet has been retained by QEP Energy to offer for sale non-producing minerals (35,130.84 net mineral acres) plus Keg Coulee #2 (ORRI) and 1,974.51 net leasehold acres located in multiple Montana counties.

Highlights:

  • 35,130.84 Net Non-Producing Minerals
  • 1,974.51 Net Leasehold Acres
    • 100% of Oil and Gas Leases (Delivering an 87.50% Net Revenue Interest)
  • 0.01973% ORRI in the Producing Keg Coulee #2 Well
  • Six-Month Average 8/8ths Production: 9 bbl/d of Oil
  • Operator: SDOCO LLC

Bids are due by 2:25 p.m. CDT June 6.