PetroSales announced a new oil and gas divestment package including 7,465 net acres under lease in the Anadarko Basin of Oklahoma. Reserves include six oil and gas properties and 14 possible drilling locations, plus facilities including gathering and production equipment. Antares Energy Co. retained PetroSales to conduct a negotiated divestiture of these assets. As an Australian company venturing into the United States, Antares and its partners first acquired the acreage in 2004, drilling four wells including two redrills of undeveloped and unproduced Morrow discoveries. Antares has elected to divest all of its interests, which are in Ellis and Beaver Counties, OK, and Lipscomb County, TX, and focus on its present core area of operations along the Texas Gulf Coast. The combined gross production averaged over the three months ending Dec. 31, 2006, was 1,648 Mcf/d of natural gas and 74 b/d of crude with net production of 536 Mcf/d of gas and 23 b/d of crude. Antares’ net operating income has averaged $118,175 per month. Active zones from the company’s six wells include the Lower Morrow gas sand, the Upper Des Moines oil sand, the Atoka condensate sand and the Tonkawa sand. Additional behind pipe potential has been identified in the Des Moines on two wells, and also 14 possible drilling locations to test the Morrow, Atoka, Des Moines, Cleveland and Tonkawa potential on their acreage. Recent horizontal drilling in the Cleveland formation nearby has yielded flow rate up to 1200 b/d of oil with 3.3 MMcf/d of gas resulting in a significant increase in reserves for this play, PetroSales said. Offers have been requested by March 23. See www.petrosales.com to download an offering summary.
Anadarko
Articles from Anadarko
People
Richard J. Sharples, former president of Anadarko Petroleum Corp. who has chaired the Natural Gas Supply Association and the Natural Gas Council, has been named executive director of the Center for Liquefied Natural Gas, a Washington, DC-based group representing LNG facility owners, operators, transporters and natural gas users.
People
Richard J. Sharples, former president of Anadarko Petroleum Corp. who has chaired the Natural Gas Supply Association and the Natural Gas Council, has been named executive director of the Center for Liquefied Natural Gas, a Washington, DC-based group representing LNG facility owners, operators, transporters and natural gas users.
People
Richard J. Sharples, former president of Anadarko Petroleum Corp. who has chaired the Natural Gas Supply Association and the Natural Gas Council, has been named executive director of the Center for Liquefied Natural Gas, a Washington, DC-based group representing LNG facility owners, operators, transporters and natural gas users.
Devon Unloads Kansas, Oklahoma CBM Reserves, Gathering for $126M
Devon Energy has agreed to sell its Cherokee coalbed methane project in the Anadarko Basin in southeastern Kansas and northeastern Oklahoma to Oklahoma City-based Quest Resource Corp. for $126 million, which Devon said is approximately equal to its net investment in the assets. The deals is expected to close next week.
Online Sales Make Marketers Less Sensitive to Customer Needs
Natural gas marketers might save a few pennies on each trade by doing their business online rather than over the phone, and they probably will handle more volume, but at some point in time it’s going to come back to haunt them, said Kevin Huntsman of Mastio & Company. Mastio just released its fifth customer satisfaction ranking of gas marketers, and the results are a little scary for many of the mega marketers, who boast about huge gas volumes but often have very few satisfied customers.
Online Sales Make Marketers Less Sensitive to Customer Needs
Natural gas marketers might save a few pennies on each trade by doing their business online rather than over the phone, and they probably will handle more volume, but at some point in time it’s going to come back to haunt them, said Kevin Huntsman of Mastio & Company. Mastio just released its fifth customer satisfaction ranking of gas marketers and the results are a little scary for many of the mega marketers, who boast about huge gas volumes, but often have very few satisfied customers.
