Transaction Type
woodford, cherokee
Post Date
Close Date
Estimated Price

Meagher Oil & Gas Properties Inc. has been retained to sell producing overriding royalty interests in Kansas and Oklahoma. The Kansas interests involve more than 600 producing wells in the Cherokee Basin in Labette, Neosho and Wilson counties with the opportunity to downspace from 160-acre to 80-acre spacing. Quest Cherokee LLC is operator and is conducting a continuous drilling program on the acreage. Monthly net cash flow averages $46,200. The Oklahoma interests involve 12,000 net acres in the Woodford shale play in Hughes and Pittsburgh counties receiving revenue on 42 wells with 16 additional wells recently drilled. The majority of wells are operated by Chesapeake Energy, Newfield Exploration and XTO Energy. Increased density drilling is beginning to accelerate. Monthly net cash flow averages $15,500. The bid due date is Dec. 23. The effective date is Jan. 1. Closing is scheduled for Jan. 22. Contact Julia Foster, 303-721-6354, ext. 229.