The following information is provided by Meagher Energy Advisors. All inquiries on the following listings should be directed to Meagher. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Whiting Petroleum Corp. retained Meagher Energy Advisors for the sale of its Retail upstream and midstream assets in Colorado’s Weld County.
Highlights:
- Unique opportunity: Shallow decline, horizontal Niobrara producing properties and wholly owned midstream assets supplement operating margins and cash flows.
- Significant production: 8,321 boe/d December net production (70% liquids) from diversified commodity mix.
- Robust cash flow: $5.4 million June 2021 net PDP cash flow forecast, $54.9 million 12-month net PDP cash flow forecast.
- Long life assets: 23,500 boe in PDP reserves representing on 8.8-year R/P ratio. Limited near-term P&A.
- Integrated midstream: Redtail plant, midstream compression and gathering systems contributes $1.1 million/month.
- Contiguous rural acreage: 69,308 net acres with regulatory and development risk mitigated through lack of urban exposure.
- Upside: 82 economic (>10% IRR) locations at current price strip identified in three types curve areas. Additional 403 locations at higher prices.
Bids are due June 2. The transaction is expected to have a June 1 effective date.
A virtual data room is available. For information visit meagheradvisors.com or contact Nick Asher, vice president of business development, at nasher@meagheradvisors.com.
Recommended Reading
Baker Hughes Awarded Saudi Pipeline Technology Contract
2024-04-23 - Baker Hughes will supply centrifugal compressors for Saudi Arabia’s new pipeline system, which aims to increase gas distribution across the kingdom and reduce carbon emissions
TechnipFMC Eyes $30B in Subsea Orders by 2025
2024-02-23 - TechnipFMC is capitalizing on an industry shift in spending to offshore projects from land projects.
ProPetro Reports Material Weakness in Financial Reporting Controls
2024-03-14 - ProPetro identified a material weakness in internal controls over financial reporting, the oilfield services firm said in a filing.
Equitrans Midstream Announces Quarterly Dividends
2024-04-23 - Equitrans' dividends will be paid on May 15 to all applicable ETRN shareholders of record at the close of business on May 7.
PrairieSky Adds $6.4MM in Mannville Royalty Interests, Reduces Debt
2024-04-23 - PrairieSky Royalty said the acquisition was funded with excess earnings from the CA$83 million (US$60.75 million) generated from operations.