Chicago Energy Associates LLC

Transaction Type
Sellers
Marketers
Field
Agenchy Draw Field
Post Date
Close Date
Estimated Price
0MM
Description

Chicago Energy Associates LLC has retained Meagher Oil & Gas Properties Inc. to sell a deep prospect in Uintah County, Utah. The package involves a 37.5% to 50% working interest (78% to 87.5% gross net revenue interest) in 31,867 gross acres (15,773 net) in Agency Draw Field, with 37% of net acres held by production and lease expirations on the remainder ranging from 2010 to 2017. About 90% of the acreage is limited in depth to below the base of the Mancos shale formation. The potential is 200 billion cubic feet equivalent. The prospect is analogous to Flat Rock Field, directly south of the Agency Draw block, which was developed on 160-acre spacing. The primary target formation is Jurassic Entrada at 11,500 feet and an average thickness of 54 feet. The secondary target is Frontier formation, with additional potential in the Navajo, Wingate and Mississippian sections. The bid due date is Aug. 12. The effective date is Sept. 1. Closing is expected by Sept. 10. Contact Julia Foster, 303-721-6354, ext. 229.