Ambassador is an unconventional oil and gas exploration company with assets in Australia and the U.S.
The Partnership plans to use proceeds to fund the acquisition of the remaining interests in Cardinal Gas Storage Partners LLC.
The Oil & Gas Asset Clearinghouse is holding an auction featuring properties in Wyoming, Colorado, Oklahoma, Texas and more.
The lease sale could result in the production of 116-200 MMbbl of oil and 538-938 Bcf of natural gas.
EnergyNet has been retained to auction working interests and operations in Calhoun, Clay and Roane counties, W.Va.
The acquisition includes the Brown Creek, Stolberg, Deanne, Burnt Timber, Moose, Jumping Pound and Ricinus areas.
EnergyNet has been retained to market assets in Oklahoma and Colorado.
Amelia Resources was retained by an undisclosed company as a technical consultant to market the acreage.
The properties are prospects in the Atoka and Wolfcamp shales.
The Oil & Gas Asset Clearinghouse is the exclusive technical, marketing and transaction advisor for the sale.
BHP said it will continue to focus on iron ore, copper, coal and petroleum, and, possibly a fifth element, potash.
Since acquiring the property in mid-2012, the assets have generated cashflow to Eagle of $28 million.