The following information is provided by Detring Energy Advisors LLC. All inquiries on the following listings should be directed to Detring. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Birch Operations Inc. is offering for sale its vertical Midland Basin wellbore-only operated interests in Howard, Martin and Midland counties, Texas.
The assets offer an attractive opportunity to acquire 89 liquids-rich wellbores (85% liquids) in the Permian Basin producing 975 boe/d (net) and generating a resilient, high-margin cash flow stream driven by efficient operations, according to Detring Energy Advisors LLC, which Birch has retained as its exclusive adviser related to the transaction.
Highlights:
- Robust Operating Cash Flow ($5 million NTM PDP) and Production (975 boe/d | 85% Liquids)
- Five+ years of production history provides confidence in forecast volumes and cash flow
- Resilient cash flow stream ensured by low operating expenses and healthy margins
- ~$16.21/boe operating cash margin
- PV-10 of $19 million
- Midland: 22%
- Martin: 58%
- Howard: 22%
- Net reserves of 3.2 million boe
- Midland: 16%
- Martin: 59%
- Howard: 25%
- High ownership interest and operational control
- Average Working Interest: 98% | Average Lease Net Revenue Interest: 77%
- 89 PDP wells
- Midland: 7
- Martin: 62
- Howard: 20
- This is a wellbore-only package
Process Summary:
- Evaluation materials available via the Virtual Data Room on May 10
- Proposals due on June 9
For information visit detring.com or contact Melinda Faust at mel@detring.com or 512-296-4653.
Recommended Reading
BP Cuts Over 5% of Workforce to Reduce Costs
2025-01-16 - BP will cut over 5% of its global workforce as part of efforts to reduce costs and rebuild investor confidence.
Expand Appoints Dan Turco to EVP of Marketing, Commercial
2025-02-13 - Expand Energy Corp. has appointed industry veteran Dan Turco as executive vice president of marketing and commercial.
Opportune Adds Jade Wang as Principal in Oil, Gas Practice
2025-01-21 - Jade Wang will focus on growing advisory firm Opportune’s service lines in upstream, midstream and energy components.
Expand Energy Picked to Join S&P 500
2025-03-10 - Gas pureplay Expand Energy will be elevated on March 24 from its position in the S&P MidCap 400 index.
Energy Careers Platform Offering Free Access to Job Seekers
2025-02-19 - Ally Energy and Parallel say their new energy industry hiring platform has advantages for both job seekers and hiring companies.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.