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.
Recommended Reading
Nabors Takes to Global Expansion in 3Q as Rig Count Shrinks in Lower 48
2024-10-25 - Nabors Industries saw broad growth across key international geographies in third-quarter 2024, with more rig deployments expected.
Baker Hughes: US Oil, Gas Rig Count Steady This Week, Down Two in October
2024-10-25 - U.S. energy firms kept the number of oil and natural gas rigs unchanged this week.
BP Energy Partners Invests in Pipeline Inspection Company Novitech
2024-10-24 - BP Energy Partners will invest in Novitech, whose Micron Technology is a leading pipeline inspection technology in the energy industry.
Matador May Tap Its Haynesville ‘Gas Bank’ if Prices Stabilize
2024-10-24 - The operator holds 8,900 net Haynesville Shale acres and 14,800 net Cotton Valley acres in northwestern Louisiana, all HBP, that it would drill if gas prices stabilize—or divest for the right price.