One-Page Deal Sheet
IronHorse Farms Out 40% Stake in Niobrara Asset to US Energy
Ageron Energy, LLC IronHorse Resources LLC
Announced Date
July 06,2016
Transaction Type
Working Interest
Enterprise Value (EV)($MM)
10
Asset/Basin:
{"DJ Basin","Wattenberg Field"}
TargetZones:
{"Niobrara A","Niobr
Location
Region
Rockies - DJ Basin
Country
United States
State
Colorado
County
Weld
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U.S. Energy Corp. has entered into a non-binding Letter of Intent with IronHorse Resources LLC. pursuant to which the Company expects to acquire a 40% interest in IronHorse Resource’s Farmout Agreement to participate in developing three core areas in the DJ Basin, Wattenberg Field in Weld County, Colorado.
Under the Participation Agreement, the Company will obtain working interests averaging 11.6% in 21 horizontal wells to be drilled in the A, B, and C benches of the Niobrara formation and the Codell formation.
The development program is slated to begin later this year and drill into mid…
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