ConocoPhillips, Burlington Resources Oil & Gas Co. LP

Transaction Type
Sellers
Marketers
Basin
Fort Worth
Post Date
Close Date
Estimated Price
0MM
Description

ConocoPhillips via subsidiary Burlington Resources Oil & Gas Co. LP has retained RBC Richardson Barr to offer a portion of its Barnett shale play in Texas.

The package includes an average 90% working interest (70% net revenue interest) in operated wells on approximately 47,700 net acres in Palo Pinto, Parker, Hood, Johnson, Somervell and Erath counties for Barnett shale rights only. The assets include 160 active producing wells (137 operated).

Average production for January and February was 36.8 million cubic feet equivalent per day (65% gas), including 1,960 barrels of gas liquids and 178 barrels of oil per day.

In Hood, Parker and Johnson counties, the package includes an average 90% working interest in 35,700 net acres. In Palo Pinto county, the company is offering an average 90% working interest and operations on 12,000 net undeveloped acres.

Upside includes up to 85 drilling locations.

The data room will open in mid-June with bids due in mid-July. Contact Craig Lande, 713-585-3335, craig.lande@rbccm.com.