The following information is provided by Meagher Energy Advisors. All inquiries on the following listings should be directed to Meagher. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.

Council Oak Resources LLC retained Meagher Energy Advisors for the sale of Arkoma Basin nonoperated leasehold and minerals.

The offering includes assets located in Hughes, Okfuskee and Okmulgee counties, Okla.

Highlights:

  • Total Net Acres: 37,192
  • HBP Net Acres: 11,179
  • Minerals are included
  • Operation potential in 50 sections
  • Acreage position has 41 active wells
  • Over 75% of expiring leases have options to extend
  • Cost to extend less than $750 per net acre

Production and Cash Flow:

  • Current Averages
    • Net NGL - 64 barrels per day (bbl/d)
    • Net Gas - 550,000 cubic feet per day
    • Net Oil - 10 bbl/d 
    • Net monthly cash flow forecast for September 2019 - $68,173

Geology/Reservoir:

  • Woodford production has high British Thermal Unit content
  • Structure allows multi-unit horizontal development
  • Stacked play potential
    • Mississippian Caney Shale
    • Mayes Lime
    • Woodford Shale
    • Hunton Limestone
    • Cromwell Sands
Council Oak Resources Arkoma Basin Nonop Leasehold, Minerals Asset Map (Source: Meagher Energy Advisors)
Council Oak Resources Arkoma Basin Nonop Leasehold, Minerals Asset Map (Source: Meagher Energy Advisors)

Bids are due by Oct. 24. Meagher said the transaction will have a Sept. 1 effective date with closing expected by Nov. 21.

For information visit meagheradvisors.com or contact Derec Norman, director of marketing at Meagher, at dnorman@meagheradvisors.com or 918-481-5900.

Onshore