WPX Energy Production LLC

Transaction Type
Sellers
Marketers
Basin
Fort Worth, Arkoma
Post Date
Close Date
Estimated Price
MM
Description

WPX Energy Production LLC has retained RBC Richardson Barr to sell certain Texas Barnett shale and Oklahoma Arkoma Basin assets.

The Barnett assets include 26,500 net Core and Tier I Barnett acres in Wise, Denton, Parker, Tarrant, Hood, Johnson and Bosque counties. The properties feature 316 active wells and 99% of the acreage is held by production.

Production for April is forecast to be 68 million cubic feet of gas equivalent per day (88% gas). Total net reserves are 768.5 billion cubic feet equivalent. Forecast April 2012 net operating cash flow is $4.3 million.

Upside includes an inventory of 260 opportunities including recompletion/refracs, development drilling and downspacing opportunities.

The Arkoma assets include 66,750 net acres (86% held by production) in Hughes, Coal, Okfuskee, McIntosh, Pittsburg, Latimer, Haskell and Le Flore counties. The properties feature 531 active wells.

Production for April is forecast to be 7.4 million cubic feet equivalent per day (100% gas). Total net reserves are 29.3 billion cubic feet equivalent. Forecast April 2012 net operating cash flow is $239,000.

The properties feature 100 miles of pipeline and associated treating facilities. Upside includes midstream opportunities to gather additional third-party gas.

The bid due date is April 3. Contact Craige Lande, 713-585-3335, craig.lande@rbccm.com.