Marketed: Sheridan Operated Waterflood, Oklahoma Assets

Transaction Type
Sellers
Marketers
Basin
Midcontinent
Field
NE Verden Unit & Chitwood NW Field
Announce Date
Post Date
Close Date
Estimated Price
MM
Description

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

Sheridan Holding Co. I LLC retained Meagher Energy Advisors for the sale of Oklahoma assets in Caddo and Grady counties including an operated waterflood unit and the Chitwood NW Field plus miscellaneous nonops.

Highlights:https://www.hartenergy.com/news/marketed-sheridan-operated-waterflood-oklahoma-assets-178890

  • NE Verden Unit (NEVU)
    • 7,917 Net Acres
    • All leasehold is held by production
    • Working Interest: 68.35%; Net Revenue Interest: 58.70%
    • Average effective net royalty interest 86%
    • Over 100 net mineral acres 
    • 32 producing wells, 28 shut in or temporarily abandoned, 23 injection and three water source wells, all operated
  • Chitwood NW Field
    • 1,664 Net Acres
    • All leasehold is held by production
    • Average Working Interest: 69.02%; Average Net Revenue Interest: 59.50%
    • Average effective net royalty interest 86%
    • 12 producing wells, 11 operated
  • Production And Cash Flow
    • Projections for April 2019
    • Gross production: 399 barrels per day (bbl/d) of oil, 378,000 cubic feet per day of gas
    • Net production: 234 bbl/d of oil and 231,000 cubic feet per day of gas
    • Net operating cash flow $259,042
  • Upside Potential
    • Workovers
    • Waterflood enhancement
    • Infill development
    • Horizontal drilling

Bids are due May 2. For information visit meagheradvisors.com or contact Derec Norman, director of marketing at Meagher, at dnorman@meagheradvisors.com or 918-481-5900 ext. 226.