Joint Resources

Transaction Type
Sellers
Marketers
Basin
D-J, Maverick
Post Date
Close Date
Estimated Price
0MM
Description

Joint Resources has retained Tudor, Pickering, Holt & Co. to sell certain Niobrara oil shale assets in northeastern Colorado and southeastern Wyoming and Eagle Ford shale assets in South Texas.

The package includes a 100% working interest in approximately 33,000 gross (25,000 net) acres in the Niobrara play as well as a 100% working interest in approximately 13,000 gross and net acres in the Eagle Ford play.

Leading shale operators including EOG, Noble, and REX are located nearby in the Niobrara. Rex Energy's Herrington Farms 41-26H well recently IP'd at 450 BOE per day. Newfield Energy is located adjacent to Joint Resources in Maverick County, Texas. Six recent Newfield well results had an average 24-hour IP rate of 630 BOE per day.

The data room will open in late March. Contact Danny Rathan, 713-333-7184, drathan@tudorpickering.com.

The bid due date is March 9. The effective date is April 1. Contact Jacque Semple, (918) 481-5900 ext. 221, jsemple@meagheradvisors.com.