Penn Natural Resources LLC, Campbell Oil and Gas Inc.

Transaction Type
Sellers
Marketers
Basin
Appalachian
Post Date
Close Date
Estimated Price
0MM
Description

Penn Natural Resources LLC and Campbell Oil and Gas Inc. have retained BNP Paribas Corporate and Investment Banking to sell or seek a joint-venture partner for assets primarily in the Marcellus shale fairway in southwestern Pennsylvania.

The package includes 100% working interest (81.25% net revenue interest) in approximately 25,000 gross and net acres (5,400 acres held-by-production) in Clearfield, Cambria, Indiana, Armstrong, Westmoreland and Fayette counties. The assets feature 83 operated shallow vertical wells and acreage near interstate pipelines.

Production is 30.36 million gross cubic feet of gas per day (24.67 million net). Monthly cash flow is $191,197. Total net reserves are 1 trillion cubic feet of gas.

Upside includes approximately 340 potential locations and other potential targets in the Upper Devonian, Huntersville, Chert, Oriskany, Utica shale and Trenton/Black River formations.

The bid due is Feb. 3. The effective date is Jan. 1. Contact Dane Isenhower, 713-982-1137, dane.isenhower@us.bnpparibas.com.