Flatirons Resources LLC

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

Flatirons Resources LLC has retained Meagher Oil & Gas Properties Inc. to sell nonoperated producing wells and leasehold in the Fayetteville shale. The package includes working interests from 1% to 26.56% (gross lease net revenue interest 78% to 83%) in approximately 2,230 net acres in Cleburne, Conway and Van Buren counties. Current operations involve 49 wells, most operated by Seeco Inc. as well as XTO Energy Inc., Petrohawk Operating Co. and KCS Resources Inc. Projected production for January 2009 is 57 million gross cubic feet per day (970,000 net). Projected net monthly cash flow is $190,966. Gross reserves are 95.41 billion cubic feet (1.54 billion net). More than 750 gross additional fairway locations remain to be developed with 40 or more locations currently being drilled annually. Some 29 net Flatirons locations remain. The company estimates a total of 64.45 billion cubic feet of net proved, probable and possible reserves. The bid due date is Nov. 18. The effective date is Jan. 1, 2008. The closing date is Dec. 22. Contact Julia Foster, 303-721-6354, ext. 229.