NCL Appalachian Partners LP

Transaction Type
Sellers
Marketers
Post Date
Estimated Price
0MM
Description

NCL Appalachian Partners LP has retained Jefferies & Co. Inc. to sell or find a joint-venture partner for all or a portion of its interests in the Marcellus shale in northeastern Pennsylvania. The package includes 79,500 mostly contiguous net acres (156,762 gross) in Lycoming, Clinton, Clearfield, Jefferson and Centre counties (96% held by production) with a 1/8th royalty on the majority. NCL is a 50% partner with Anadarko Petroleum Corp. on a significant portion of the acreage with Anadarko operating. The companies are joined in an area of mutual interest on some 800,000 gross acres. Currently three rigs are running with plans to add additional rigs over the next six to 12 months. The bid due date is in early November. Closing is expected by mid-December. Contact Joe Gladbach, 281-774-2026, jgladbach@jefferies.com.