Rosetta Resources Operating LP has retained BMO Capital Markets to sell its noncore, underexploited assets in the Pinedale Anticline in Wyoming and in the San Juan Basin in New Mexico, representing a complete exit by Rosetta from both areas.
The package involves 16,872 net acres (primarily operated), with total proved reserves of 40 billion cubic feet equivalent and incremental resources of 32 billion cubic feet equivalent. Current net production is approximately 10 million cubic feet equivalent per day. Net annualized cash flow is approximately $10 million.
Upside includes primarily step-out and infill opportunities with deep exploration potential in established unconventional plays offset to successful operators.
Rosetta's preference is to sell the properties in a single transaction, but the company will consider offers on separate packages. Contact Linda Fair, 713-546-9748.
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