Fossil Creek Resources LLC

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

Fossil Creek Resources LLC, an EnCap Investments LP private-equity portfolio company, has retained RBC Richardson Barr to sell all of its leasehold in the Powder River Basin of Wyoming.

The package consists of approximately 58,000 gross acres (36,000 net) in Converse and Niobrara counties positioned in the horizontal Niobrara/Frontier play plus existing productive Teapot and Muddy fairways. There is an average 81% net revenue interest in the acreage.

The acreage is a mixture of primarily federal and private leasehold, with some state leasehold, and the majority of leases were taken during the 2008 to 2010 timeframe.

Fossil Creek has formed one federal unit (Chute) and been named unit operator.

Upside includes an inventory of several hundred potential horizontal drilling locations, operations available for Fossil Creek wells in other units via divided unit rules and several prolific tests in Powder River Basin confirming resource thesis.

The bid due date is mid-June. The effective date is July 1. Contact Craig Lande, 713-585-3335, craig.lande@rbccm.com.