Calgary-based private equity Waterous Energy Fund LP has closed its debut fund and raised C$1.4 billion ($1 billion) in committed capital, exceeding an original target of C$1 billion.
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Apache Corp. has retained Scotia Waterous (USA) Inc. to sell about 49,500 net acres (80,000 gross) in East Texas, which at the end of 1Q2011 were producing a total of 41 MMcfe/d net. The acreage to be sold includes 490 proved developed producing wells, which are 80% operated. Proved reserves are estimated at 233 Bcfe, with proved and probable reserves of 338 Bcfe. Most of the total proved and probable reserves are in Freestone, Nacogdoches and Upshur counties; additional acreage to be sold is in Camp, Rust, Angelina, Gregg, Panola, Marion, Harrison, Leon and Limestone counties. Production comes from several producing intervals that include the Bossier, Cotton Valley lime, Travis Peak and Rodessa formations. The bid due date is Aug. 4; the effective date is Sept. 1. For information contact Edward Katterhagen at (713) 437-5064.
June 17, 2011
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