Buschman and Hightower Oil & Gas Co. has updated its sale of certain nonoperated working interest properties in Texas being marketed by Simon Energy Associates.
The first package now includes 19.64% to 20% working interest (13.69% to 14% net revenue interest) in 1,840 gross acres in Wheeler County targeting the Mississippian, Granite Wash, Morrow and Hunton formations. The assets feature three producing wells. Quantum Resources Management LLC is operator.
Production is approximately 281,000 cubic feet of gas per day from the Morrow sand. Upside includes more than 20 potential Granite Wash horizontal locations.
The second package includes 15.95% to 16.67% working interest (12.57% to 12.88% net revenue interest) in 1,920 gross acres in Wheeler County. Aslo includes id 0.21% overriding royalty interest in Conwell Gas Unit #1.The assets feature three producing wells. Chesapeake Operating Inc. is operator.
Production is approximately 330,000 cubic feet of gas per day from the Morrow and Hunton sands. Upside includes more than 12 potential Granite Wash horizontal locations. The assets also feature two active Granite Wash horizontal drilling permits.
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