Flatirons Development LLC

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

Flatirons Development LLC has retained Energy Spectrum Advisors Inc. to sell operated producing assets in the Pennsylvania Marcellus shale.

The package includes 100% working interest (82% average net revenue interest) in 8,937 gross and net acres across two contiguous acreage blocks in Clearfield, Elk and Jefferson counties. The properties feature two producing horizontal Marcellus test wells and the land is 32% held by production, (19% has 2012 expirations, all of which has low-cost renewal options).

Gross production is 2.3 million cubic feet of gas per day (1.9 million net).

Upside includes three horizontal well permits in place and infrastructure including gas gathering lines, interstate pipelines, gas marketing agreement, multi-well pad sites, multiple water impoundments, and source water agreements to allow for optimal full field development. The assets include more than 120 horizontal Marcellus drilling locations as well as Utica shale upside.

The bid due date is May 8. Contact Kevin Kuenn, 214-987-6126, kevin.kuenn@energyspectrum.com.