Titan Energy LLC, formerly Atlas Resource Partners LP, is offering coalbed methane (CBM) assets in a sale handled by Detring Energy Advisors.
The offer includes CBM and related assets in Virginia, West Virginia and Alabama's Black Warrior Basin plus 131,300 net HBP acres.
Highlights:
- More than $20 million operated cash flow;
- 35 million cubic feet per day (MMcf/d) net production;
- 100% gas;
- 92% operated;
- About 10% annual decline;
- About 150 Bcf net proved developed producing reserves;
- 131,300 net acres (roughly 100% HBP);
- 1,555 active wells (75% operated);
- Average 82% working interest and 20% royalty; and
- Inventory of about 175 high-return workover candidates, Detring said.
Bids are due Oct. 11. For information visit detring.com or contact Melinda Faust, director with Detring, at 713-907-2003.
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