Flatirons Development LLC

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

Flatirons Development LLC has retained Energy Spectrum Advisors Inc. to sell nonoperated producing assets in the Arkansas Fayetteville shale.

The package includes more than 44,160 acres in 69 640-acre sections (82% held by production) with 174 producing wells in Van Buren, Conway and Cleburne counties. SEECO Inc. (Southwestern Energy) operates 90% of the producing wells, with the remaining wells operated by XTO, BHP/Chesapeake, Petrohawk and KCS.

Net production as of May 1 was approximately 3.5 million cubic feet of gas per day. Average net monthly operating cash flow is $289,555. Proved net reserves as of July were 15.3 billion cubic feet of gas (72% proved developed producing).

Upside includes more than 400 undeveloped drilling locations.

The bid due date is Sept. 13. Contact Kevin Kuenn, 214-987-6126, kevin.kuenn@energyspectrum.com.