Marketed: QEP Powder River Basin Property Auction

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

The following information is provided by EnergyNet. All inquiries on the following listings should be directed to EnergyNet. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.

QEP Energy Co. retained EnergyNet for the sale of Powder River Basin assets across multiple counties in Wyoming through an auction.

The offer includes 228 properties comprised of nonoperated working interest, overriding royalty interest and mineral rights plus leasehold.

Property Highlights:

  • Nonoperated Working Interest in 158 Properties:
    • 50.00% to 0.00478% Working Interest / 36.75% to 0.004037% Net Revenue Interest
    • An Additional Overriding Royalty Interest in 22 Properties
    • An Additional Royalty Interest in Five Properties
    • 79 Producing Properties | 40 Saltwater Disposals | Seven Non-Producing Properties | 31 Shut-In Properties | One Temporarily Abandoned Property
  • Overriding Royalty Interest in 37 Properties:
    • 6.50% to 0.005144% Overriding Royalty Interest
    • An Additional Royalty Interest in Two Properties
    • Three Convert to Nonoperated Working Interest After Payout
    • 27 Producing Properties | Nine Shut-In Properties | One Saltwater Disposal
  • Royalty Interest in 33 Properties:
    • 4.6875% to 0.008066% Royalty Interest
    • 12 Producing Properties | 18 Shut-In Properties | Three Temporarily Abandoned Properties
  • 12-Month Average Net Income: $54,085 per Month
  • Six-Month Average 8/8ths Production: 3,192 barrels per day of Oil and 6.834 million cubic feet per day of Gas (includes unit production)
  • 8,522.70 Net Leasehold Acres
  • 4,350.26 Net Mineral Acres
    • 3,733.18 Net Non-Producing Net Mineral Acres (105.00 Net Mineral Acres Unleased)
    • 617.08 Net Producing Net Mineral Acres
  • Select Operators include Citation Oil & Gas Corp., Devon Energy Corp. and Sheridan Production Co. LLC

Bids are due at 2:30 p.m. CST April 3. For complete due diligence information energynet.com or email Ryan Dobbs, vice president of business development, at Ryan.Dobbs@energynet.com, or Denna Arias, director of transaction management, at Denna.Arias@energynet.com.