Stormcat Energy Corp. has retained Meagher Energy Advisors to sell certain interests in the Fayetteville shale in Arkansas.
The package includes 25,861 gross acres (18,802 net) in Searcy, Hope, Van Buren, Conway, Faulkner and Cleburne counties. Assets include 48 wells, with 14 operated (nine producing) and 34 nonoperated (30 producing). Lease renewals range from 2010 to 2014, and the company estimates five to 10 years of drilling inventory with well spacing on five horizontal wells per section.
Net production is 1.5 million cubic feet per day. Total proved reserves are 9.2 billion cubic feet (3.3 billion proved developed producing). Net cash flow is $100,000 per month.
The bid due date is June 11. The effective date is July 1. Closing is expected by the end of July. Contact Julia Foster, 303-721-6354, ext. 229, jfoster@meagheradvisors.com.
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