The Oil & Gas Asset Clearinghouse to Host Lease Sale of Over 200,000 Gross and Net Acres for Anadarko Petroleum Corporation
Posted on: Monday, 29 October 2007, 12:00 CDT
HOUSTON, Oct. 29 /PRNewswire/ -- The Oil & Gas Asset Clearinghouse ("The Clearinghouse"), a leading provider of acquisition and divestiture services for oil and gas properties, announced today that it has been selected by Anadarko Petroleum Corporation ("Anadarko") to provide marketing and advisory services and host a lease sale auction covering all of Anadarko's unleased oil and gas mineral holdings in the state of Arkansas. Anadarko will offer the right to lease approximately 250,000 gross and 206,000 net acres throughout the state. Approximately 170,000 net acres are considered to be in the Fayettville Shale fairway and another approximate 5,000 acres lie within the Smackover play in southern Arkansas.
The Anadarko assets will be offered on pre-determined lease terms which will be available prior to the auction through The Clearinghouse. Royalties retained by Anadarko will range from 12.5% - 15% with primary lease terms ranging from 10 to 5 years. Lease Sales are common for state and federal agencies desiring to broadly market drilling rights to minerals; however this lease sale will be a first of its kind for a publicly held entity.
The Clearinghouse will host a two day auction on November 14-15, 2007 at the Sheraton North Houston Hotel. The auction will begin with the sale of oil and gas leases on pre-determined terms covering the Anadarko mineral position; followed by many quality producing oil and gas properties owned by various sellers including Chevron, EOG Resources, McClymond Ltd., Reef Partners, Rudman Partnership, Samson Resources, and Whiting Petroleum among others.
For more information on the Anadarko lease sale or other properties to be offered November 14-15, 2007, contact The Clearinghouse at 281-873-4600 or visit our website at http://www.ogclearinghouse.com/.
About the Companies
The Oil & Gas Asset Clearinghouse is the premier provider of oil and gas property marketing and advisory services in North America. The Clearinghouse conducts 10 to 12 oil and gas property auctions annually in the US and Canada, allowing its clients to participate through physical attendance or to compete in real time over the Internet. The Company also provides negotiated transaction services focused on the mid-market and a sealed bid process. All of The Clearinghouse's marketing and advisory services are supported by a high level of reserve engineering, geo-science and land expertise.
P2ES Holdings, Inc., formerly known as Tristone Energy Services, is the holding company of two operating companies: The Oil & Gas Asset Clearinghouse L.P. and P2 Energy Solutions Inc.
P2 Energy Solutions focuses on the development and support of data, software and enterprise services to meet the information and business process needs of the energy industry. P2 Energy Solutions is the oil and gas industry's most comprehensive source of asset management solutions including Entelligent, Enterprise Upstream, Excalibur, Qbyte, Tobin LandSuite(TM) and Tobin SuperBase(R). With solutions deployed at more than 500 companies worldwide, P2 Energy Solutions enables clients to achieve greater productivity while maintaining effective controls. P2 Energy Solutions is presently one of the largest purveyors of mission critical software and data solutions focused on the upstream petroleum industry and serving over 500 clients in the E&P sector. The company has a 75-year history of serving the oil and gas industry and understands its workflow processes. P2 Energy Solutions has the breadth and depth of expertise to meet the expanding financial, operational and data management needs of energy companies from private independents to supermajors. More information can be found at http://www.p2es.com/.
The Oil & Gas Asset Clearinghouse
CONTACT: Ken Olive of The Oil & Gas Asset Clearinghouse,+1-281-873-4600, kolive@ogclearinghouse.com
Web site: http://www.ogclearinghouse.com/http://www.p2es.com/
Source: PRNewswire
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