Coronado Resources

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

Coronado Resources has retained Meagher Oil & Gas Properties Inc. to sell operated interests in a shallow, naturally-fractured Woodford shale play in the early stages of development drilling in Oklahoma. The package includes 63,547 net acres in Wagoner, Craig, Mayes and Rogers counties, with 54,444 net acres (86% of leasehold) in the core area of Wagoner County. Coronado owns 100% WI in nearly all units. Assets include 43 producing wells, with 40 wells drilled in various stages of completion. Current production is 1.5 million cubic feet per day. Total identified resource potential is 100 billion cubic feet. Upside includes 310 drilling locations identified on 160-acre spacing. Additional upside exists in conventional oil and gas formations. Infrastructure is in place for full-scale development. Some 26 miles of large-diameter transport pipe and gathering system is already in place. The bid due date is Aug. 13. The effective date is July 1. Closing is expected by Sept. 15. Contact Jacque Semple, 918-481-5900, ext 221.