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.