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Monday, July 21, 2008
Denver based, Aspect Abundant Shale LP, is pleased to announce the sale of Barnett Properties to Williams Production, Gulf Coast LP for $166,500,000. The sale assets include 41 existing producing wells with daily net production of approximately 9 million cubic feet equivalent (MMCFE), 175 billion cubic feet equivalent (Bcfe) of proved, probable and possible reserves on approximately 10,000 net acres predominately located in Tarrant, Johnson and Hood counties. The company plans to re-invest the proceeds of this sale in multiple clean burning natural gas resource basins in N. America.
This is the second major sale for AASLP this year. In February, AASLP closed on the sale of its Fayetteville Arkansas holdings.
Williams (NYSE: WMB) Williams' acreage position in the play prior to this agreement was approximately 34,000 net acres. Williams originally entered the Barnett Shale in 2005. Williams has four drilling rigs operating in the Barnett Shale. The company plans to add two rigs in north Texas to begin developing the new acreage.
Monday, April 7, 2008
ASPECT ABUNDANT SHALE LP JOINT VENTURE
In April 2008, Aspect Abundant Shale LP (AASLP) announced a Joint Venture with Lenape Energy, Inc. in the Utica Shale , New York.
LENAPE ENERGY, INC.
Lenape Energy, Inc. (a Delaware corporation) was formed in March of 1995 to acquire Lenape Resources Inc. (a New York corporation) and Lenape Gathering Corp. (a New Jersey corporation) from KCS Energy. In 1996, subsequent to the acquisition of these companies, Lenape Drilling, Inc. (a Delaware corporation) was formed. All of the corporations have their principal office at 9489 Alexander Road, Alexander, New York 14005. www.lenaperesources.com
Tuesday, January 8, 2008
FAYETTEVILLE ARKANSAS SALE
Aspect Abundant Shale LP, sold its Fayetteville Shale Trend, AR properties, primarily located in Van Buren, Conway and Cleburne counties, effective January 1, 2008. Included was approximately 18,500 net acres and a strategically located pipeline gathering system. The initial gross production rate for the two operated wells drilled on the acreage during 2007 was approximately 5 Mmcfe/d and 4 Mmcfe/d, respectively.
