Berco Resources LLC

Transaction Type
Post Date
Estimated Price
0MM
Description

Berco Resources LLC has retained Meagher Oil and Gas Properties Inc. to sell assets in the Green River Basin in Sublette County, Wyoming. The package includes 100% working interest in 18,246 gross acres (16,024 net) in 67 Draw Field in the Big Piney project area targeting the Mesaverde and Baxter formations with additional targets in the Second Frontier, Mowry and Dakota trends. The holdings are a large contiguous block of which 59% is fee acreage and a majority of non-held-by-production acreage expires in 2011 and beyond. The assets include 11 existing wellbores producing about 990,000 cubic feet per day. Proved reserves are still being evaluated. Average monthly net cash flow from January through March was $78,000. Berco owns a new 5-million-cubic-feetper- day CO2 removal and dehydration facility with the capability to increase to 10,000 per day, and a six-mile gathering system that connects to Williams' Opal facility. The bid due date is June 4. The effective date is June 1. The closing date is June 30. Contact Julia Foster, 303-721-6354 ext. 229.