NCL Appalachian Partners LP

NCL Appalachian Partners LP has retained Scotia Waterous (USA) Inc. to sell its Utica shale/Point Pleasant assets in eastern Ohio.

The properties lie within the wet gas/liquids-rich window of the Utica trend and feature an average 82.5% net revenue interest in 30,000 gross acres (29,700 net) in Mahoning and Trumbull counties. The material leasehold position is 100% held by production and is highly contiguous. There are no lease drilling commitments or requirements. Existing non-Utica production is not included in this offering.

Regional initial horizontal well results include Chesapeake’s recent initial production from Mangum # 8H if 3.1 million cubic feet of gas per day and 1,015 barrels oil per day in Carroll County.

Upside includes existing and planned infrastructure that will enhance ability of buyer to develop the asset base. Major highways are adjacent to the acreage and existing on-lease road infrastructure. There is also potential future oil/liquids pipeline infrastructure development, and Dominion East Ohio has a major wet gas line through the center of the leasehold.

The bid due date is April 17. Contact Adrian Goodisman, 713-437-5050, adrian.goodisman@scotiabank.com.