QEP Energy Co.

Transaction Type
Sellers
Marketers
Basin
Anadarko
Post Date
Close Date
Estimated Price
MM
Description

QEP Energy Co. has retained BMO Capital Markets to sell certain Woodford (Cana) shale assets in the Oklahoma Anadarko Basin.

The package includes 288,829 gross acres (48,768 net) in the liquids-rich part of the play in Dewey, Blaine, Kingfisher, Custer, Canadian, Caddo and Grady counties. QEP is offering rights to the Woodford shale and 200 feet above, which includes the Osage or Lower Mississippian formations, and 200 feet below in the Upper Hunton formation. Nearly half of the acreage is held by production with very limited near-term expiration.

Net production is 9.3 million cubic feet of gas equivalent per day (45% liquids). Monthy net operating cash flow is $1.6 million. Total net reserves are 967.1 billion cubic feet of gas equivalent (16.9 billion cubic feet proved developed producing).

Bids are due in January. The data room opens Nov. 28. Contact Miles Redfield, 713-546-9715, miles.redfield@bmo.com.