Oasis Petroleum Inc. (NYSE: OAS) is offering Williston Basin producing properties in a sales process handled by Meagher Energy Advisors.
The offer is described as a consolidated HBP acreage position covering nearly 17,900 net acres in North Dakota and Montana, excluding Bakken/Three Forks rights, Meagher said. Additionally, the sale includes shallow decline production primarily from the Madison Formation.
Highlights:
- 594 barrels of oil equivalent per day (more than 90% oil) net production forecasted in October, primarily from the Madison Formation;
- $303,000 projected October cash flow;
- 49 operated and 15 nonoperated producing wells;
- Long life proved developed producing reserves due to less than 8% annual decline;
- Consolidated acreage consisting of 17,893 net acres excluding Bakken/Three Forks rights;
- All acreage HBP with many tracts also held by Bakken production;
- Net revenue interests greater than 85% on 15,000 acres; and
- Includes two saltwater disposal wells and associated systems.
Upside opportunities include 22 identified potential recompletions, according to Meagher.
Bids are due Oct. 12. For information visit meagheradvisors.com or contact Nick Asher, vice president of business development for Meagher, at 303-721-6354.