ConocoPhillips Co. has retained TenOaks Energy Advisors for the sale of certain operated and non-operated properties located in the Delaware Basin. The package includes a net production of 1,600 boe/d.
- Premier Delaware Basin footprint in Lea County, New Mexico
- 5,970 gross / 4,100 net acres with majority operational control (100% HBP)
- NTM Avg. Net Production: ~1,600 Boepd / NTM OCF: $30MM
- 2024E OCF: $63MM with an exit rate of ~4,500 Boepd (net) assuming a 1-rig program
- High return drilling program with exceptional IRRs and type curves reaching >1,100 MBoe with ample well control.
- 132 gross / 50 net drilling locations remaining with an average lateral length of ~8,750'
- Significant production from the 1BS, 2BS, 3BS/WCA on and immediately offset the position / additional targets include the Middle WC and Penn Shale
Bids are due Nov.9. For complete due diligence, please visit tenoaksenergyadvisors.com or email B.J. Brandenberger, partner, at email@example.com or Forrest Salge, vice president, at firstname.lastname@example.org
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