GeoMet to sell Appalachia CBM producing properties

GeoMet Inc., Houston, will divest its coalbed methane interests in the Appalachia basin in West Virginia and West Virginia.

Current net operating cash flow averaged $1.65 million/month on net sales of 22.8 MMcfd for the 12 months ended Aug. 31 at an average $3.58/Mcf.

The properties are in McDowell, Wyoming, Raleigh, Barbour, and Taylor counties, W.Va., and Buchanan County, Va. The assets represent vertical wells and, to a lesser extent, horizontal wells. The operated and nonoperated interests include 298 vertical and 108 horizontal wells.

Most vertical wells have a 100% working interest and an average net revenue interest of 80%, while the working interest of the horizontal wells varies from 33% to 100%. The vertical wells are characterized by shallow production decline curves and long lives while the horizontal wells display more of the conventional natural gas well decline characteristics, GeoMet said.

Related Articles

Illinois shale exploration remains in limbo as regulators consider draft fracing rules

10/17/2014 Illinois is making progress toward a regulatory framework for hydraulic fracturing after the Illinois Department of Natural Resources (IDNR) releas...

Shewashan light oil discovery in Kurdistan declared commercial

10/17/2014

Gas Plus Khalakan Ltd. (GPK) has declared commercial the Shewashan light oil discovery on the Khalakan block in the Kurdistan region of Iraq.

Southwestern refines Fayetteville shale completions

10/16/2014 Southwestern Energy Co. completed 7 of its 10 best-performing wells in the Mississippian Fayetteville shale during the second quarter as it continu...

Eni, Quicksilver drill joint Bone Springs well

10/16/2014 Eni SPA and Quicksilver Resources Inc. have unveiled the results of the first horizontal well drilled under a West Texas joint exploration agreement.

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected