Tetra Energy Plans To Sell Woodford Shale Acreage In Oklahoma

Published: Feb 18 2013
Deal Summary

Tetra Energy LLC, an oil and gas company, intends to sell oil and gas assets in Logan and Oklahoma Counties, Oklahoma. The assets under sale include approximately 20,085 net acres, targeting the Woodford shale formation. Tetra has a 79% net revenue interest in about 99% of the leases. The company anticipates 8 wells per 640-acre section for maximum recovery, with estimated 54 MMbbl of oil in place per section.

Meagher Energy Advisors has been retained as financial advisor by Tetra Energy for the divestment of the assets. The bidding for the acquisition of assets will be on March 26, 2013. The transaction will have an effective date of April 1, 2013.

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