The Oil & Gas Asset Clearinghouse has been selected to exclusively market the assets.
The acquisition boosts the Watford City, N.D.-based company’s total freshwater sources to more than 150 locations.
The Oil & Gas Asset Clearinghouse is the exclusive marketer for the assets.
The sale was made in conjunction with France's Total SA, which also sold its 25% interest in CGS.
The acquisition included 148,250 hp of hydraulic fracturing equipment.
Aspect Energy LLC is offering for sale several large working interest packages along Louisiana’s Gulf Coast.
BOEM estimates the proposed lease sale could result in the production of 460-894 MMbbl of oil and 1.9-3.9 Tcf of natural gas.
The transaction is expected to close in late November.
At closing, Flatonia will own a 21.4% equity interest in the combined company, while Oak Valley and the current Earthstone stockholders will own 66.0% and 12.6%, respectively.
Net proceeds to EVEP are $30.6 million.
The properties sold accounted for approximately 720 boe of average daily production, net to the ownership interest sold.
The 206.5 acre lease is located in a prolific multiple pay area originally discovered by ARCO in the early 1980s.
|E&P||USD 5375||Members only||Chesapeake Energy Corp.|
|Mid||USD 2500||Members only||QEP Resources Inc.|
|S&S||USD 225||Members only||CRS Proppants LLC|
|Mid||USD 470||Members only||Costar Midstream LLC|