Sagebrush Resources LLC

Transaction Type
Sellers
Marketers
Basin
Williston
Field
Columbus/South Coteau, Renville/Kuroki
Post Date
Close Date
Estimated Price
MM
Description

Sagebrush Resources LLC has retained RBC Richardson Barr to sell all of its producing oil and gas properties and related assets in the North Dakota Williston Basin.

The package includes 97% average working interest in proved assets and overall leasehold position of approximately 57,000 net acres in Burke, Mountrail, McLean, Bottineau and Renville countries. The assets include the main projects in the Columbus/South Coteau and Renville/Kuroki fields.

Production in September was 2,500 barrels of oil equivalent per day. Proved reserves are 10.4 million barrels equivalent (94% oil, 48% proved developed producing) and proved, probable and possible reserves are 24.8 million barrels equivalent.

Upside includes 238 drilling locations notably Renville Field Madison waterflood with 31,000 gross (18,000 net) acres in McLean County with Bakken prospectivity.

The data room opens Oct. 13. The bid due date is Nov. 15. The effective date is Sept. 1. Contact Craig R. Lande, 713-585-3300, craig.lande@rbccm.com.