Moyes & Co. to sell Barnett Combo Play Leasehold
DALLAS, June 19, 2012 /PRNewswire/ — Moyes & Co. has been retained as exclusive financial advisor by a private London-based independent to sell an 87% working interest (possibility to acquire 100%) in approximately 2,006 net acres (2,531 gross acres) of leasehold with the potential to acquire an additional 952 net acres (1,304 gross acres) in eastern Clay County, Texas. Eastern Clay County is located in the western area of the Barnett Combo Play.
The NRI (net revenue interest) is 79.25% with approximately two years remaining on the primary term and most have a two-year extension paid upfront ($200/acre) for 2,006 net acres of the leasehold.
The Barnett Shale is found at 6,300 feet MD (measured depth) and is approximately 285 feet thick on the east side of the leasehold and thins to approximately 235 feet thick on the west side of the leasehold. The Barnett Shale in the leasehold correlates well and has a similar thickness to the Barnett Shale in southwestern Montague County which is currently being developed by companies such as EOG and Pioneer.
Possible transactions include a purchase of the leasehold or acquisition of the US entity which holds the leasehold and has significant tax loss carry forwards.
Interested parties should contact Moyes & Co. (214-623-6700) for additional information. Headquartered in Dallas, Texas, Moyes & Co. provides advisory services related to the oil and gas industry.
SOURCE Moyes & Co.