Waterfront at Foster Lake LLC has retained Meagher Energy Advisors to sell a royalty package in the DJ Basin of Colorado.
The package involves an average 7.8% mineral interest in 48 producing wells in Weld County.
Estimated production for May is 10,000 gross barrels of oil (750 barrels net) and 82 million gross cubic feet of gas (6 million net) from the Niobrara/Codell and DJ formations. Proved plus probable reserves are 90,000 barrels of oil and 707 million cubic feet of gas net. Cash flow for January was $104,000 (net) with estimated May cash flow of $87,600 (net).
Upside includes ongoing development of infill locations and low-risk, behind-pipe reserves.
The bid due date is April 8. The effective date is May 1. Closing is expected by April 23. Contact Nicholas Asher, 303-721-6354, ext. 260, email@example.com.