Coronado Resources

Transaction Type
Sellers
Marketers
Basin
Arkoma, Black Warrior
Post Date
Close Date
Estimated Price
0MM
Description

Coronado Resources has retained Meagher Oil & Gas Properties Inc. to sell operated exploration and development opportunities in Arkansas and Alabama. The first package involves approximately 7,500 net acres on 45 sections with an average net revenue interest of 83% with Fayetteville and Woodford shale potential in Crawford, Franklin, Madison and Washington counties in Arkansas. Multiple conventional and unconventional objectives are present. The Woodford shale appears similar and on trend with proven projects in Wagoner County, Oklahoma. All leasehold expiring before 2015 has option terms with five-year extensions. The second package involves approximately 8,200 net acres with an average 80% net revenue interest in 46 sections in the Black Warrior Basin in Hale County, Alabama. Multiple target formations include the Pottsville coal, Chandler (Penn) sands, and the Floyd and Chattanooga shales. Option terms include two- to five-year extensions on 95% of the leasehold. The bid due date is Sept. 15. The effective date is Oct. 1. Closing is expected by Sept. 30. Contact Jacque Semple, 918-481-5900, ext. 221, jsemple@meagheroil.com.