J.M. Huber Corp.

Privately owned J.M. Huber Corp. has retained Scotia Waterous (USA) Inc. to sell certain producing coalbed-methane properties and associated operations in the Powder River Basin in Wyoming, and also undeveloped coalbed-methane and prospective Chattanooga shale acreage in the Black Warrior Basin in Alabama.

In the Powder River Basin, the package includes a nearly undeveloped (55%) position in approximately 368,400 gross acres (313,600 net acres) in Sheridan, Campbell and Johnson counties in Wyoming, and Rosebud, Big Horn and Powder River counties in Montana. The properties contain approximately 2,400 coal-bed methane wells, with current daily net production of 51.2 million cubic feet of gas (100% gas).

Upside includes both low-risk proved undeveloped locations (50%), with 123 billion cubic feet of proved reserves, and probable and possible drilling locations, with reserves of 8 billion cubic feet and 161 billion cubic feet, respectively. Proved, probable and possible reserves are estimated at 292 billion cubic feet (42% proved).

In the Black Warrior Basin, Huber is offering the rights to earn 45,300 gross acres, which contains a coal-bed methane pilot, and rights to earn 48,450 gross acres in the emerging Chattanooga shale trend in Pickens, Tuscaloosa and Greene counties.

An active domestic E&P company since 1919, Huber holds oil and gas properties primarily in the Wyoming Powder River Basin.

The online data room opens Aug. 16. The physical data room opens Aug. 23. Bids are due by late September. Contact Adrian Goodisman, 713-437-5050, adrian_goodisman@scotiawaterous.com.