Anadarko Petroleum, The Oil Gas Asset Clearinghouse, Utah, natural gas, midstream, Rockies, Carbon, Emery, Clearinghouse, sale, negotiated transactions, Western Gas Partners, Helper Gathering System, Clawson Gathering System, gas production, marketed, on

Anadarko Petroleum Corp. (NYSE: APC) is selling more than 40,000 net acres in the Rockies in Utah in a negotiated transaction through The Oil & Gas Asset Clearinghouse LLC.

The assets are located in Carbon and Emery counties, Utah. The sale includes low-decline gas production, development and midstream opportunities, according to Clearinghouse.

Highlights:

  • More than $16 million proved developed producing cash flow projected for 2017;
    • Combined E&P and midstream net cash flow at 2017 NYMEX strip as of Aug. 1;
  • 28 million cubic feet per day (MMcf/d) first-month net production;
  • 4% decline rate (2014 to 2016 decline)
  • Majority operated by Anadarko;
  • Multiple economic infill drilling locations, Clearinghouse said;
  • About 40,500 net acres;
    • More than 97% HBP;
  • Midstream facilities—Western Gas Partners LP (NYES: WES), a MLP formed by Anadarko;
    • 67-mile Helper Gathering System in Carbon County, Utah;
    • 47-mile Clawson Gathering System in Carbon and Emery counties, Utah; and
    • 3 CO2 treating facilities with 40,000 Mcf/d treating capacity.

Bids are due Sept. 13. The sale is expected to have an Oct. 1 effective date.

For information visit ogclearinghouse.com or contact Patrick DaPra, vice president of negotiated transactions for Clearinghouse, at 832-601-7655.