RayGee Top Royalty LLC and Trifecta Resources LLC have hired Virage Energy Group LLC to market their overriding royalty interest in the Barnett shale.
The 3,177 gross acres are in Tarrant, Johnson and Denton counties, Texas and include 15 producing units, all of which are held by production. The overriding royalty interests generate are, on average, about 1% of production, and generate about $39,000 per month in cash flows.
The operator is ARP Barnett LLC. Production from the acreage is about 333 million cubic feet (MMcf) per day from 25 producing wells. The average discount to the price of natural gas at Henry Hub is about $0.78/Mcf. Net proved, developed producing reserves from the acreage is about 840 MMcf. Net cash flows are about $38,630 per month.
The acreage has about 27 drilling locations and significant refract potential.
The effective date for the transaction is June 1. Bids are due by Aug. 13. For additional information, contact Charles Lapeyre at Virage Energy Group, 214-800-2087.
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