American Energy–NonOp LLC (AENO), an affiliate of American Energy Partners LP (AEP), Oklahoma City, has completed a series of transactions with Double Eagle Energy Holdings LLC, Ft. Worth, and several other parties to acquire nonoperated working interests in the SCOOP and STACK resource plays in southern and central Oklahoma for $251 million.
The properties, which primarily lie in Canadian, Carter, Garvin, Grady, Kingfisher, Love, and Stephens counties, produce a combined 1,800 boe/d with 82 wells currently drilling or awaiting completion.
With the transaction, AENO adds a position in SCOOP and STACK across 543 existing or potential spacing units with exposure to the Woodford and Meramec shale formations as well as the emerging Goddard-Springer shale formation.
Thirty-eight horizontal rigs are on AENO leasehold, representing 48% of all rigs active in the plays; 68 horizontal rigs are on or within 2 miles of AENO leasehold, representing 87% of all rigs active.
In Goddard-Springer, Continental Resources Inc. recently oversaw 24-hr initial production rates greater than 1,100 boe/d, resulting in average single well gross estimated ultimate recoveries of 940,000 boe, of which 84% is liquids (OGJ Online, Oct. 23, 2014).
Key operators in the plays in addition to Continental include Newfield Exploration Mid-Continent Inc., ExxonMobil Corp. unit XTO Energy Inc., and Marathon Oil Co.
AENO is focused on the acquisition, development, and production of unconventional nonoperated oil and natural gas reserves onshore US, with assets in the Midcontinent, South Texas, Permian basin, North Louisiana, and Williston basin.