Long Petroleum LLC has retained Albrecht & Associates Inc. to sell certain nonoperated Haynesville shale assets in Louisiana.
The package includes an average 11% working interest (8.9% net revenue interest) in 44 producing wells, 10 proved developed nonproducing opportunities and 61 proved undeveloped locations in De Soto Parish. The assets are on 7,680 gross acres (850 net), all held by production. Of the 44 producing wells, 25 are horizontal Haynesville wells. The properties are operated by Exco Operating Co. LP.
Net sales for August are projected to be 13.6 million cubic feet of gas per day. Net proved reserves are 76 billion cubic feet of gas. Producing cashflow for the first 12 months following the effective date is $10.9 million, or approximately $908,000 per month.
The bid due date is Aug. 3. The effective date is Aug. 1. Contact Harrison Williams, 713-951-9586, hwilliams@albrechtai.com.
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