The following information is provided by TenOaks Energy Advisors LLC. All inquiries on the following listings should be directed to TenOaks. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Crystal Energy is offering for sale certain nonoperated properties located in the Williston Basin. The company has retained TenOaks Energy Advisors as its exclusive advisor in connection with the transaction.
- ~23,000 gross unit acre3 non-operated position (100% HBP) largely across a contiguous footprint in Williams County, ND
- $13.3 MM NTM PDP Cash Flow in core Williston area
- Seasoned production: 60% of cash flow on wells with >5 years of history
- 103 producing horizontal wells: 73 Bakken / 30 Three Forks
- Sizable undeveloped location inventory provides for years of growth opportunities
- 85 infill PUDs remain: 27 Bakken / 58 Three Forks
- Asset is 45% undeveloped
- PUD IRRs: Bakken up to 87% / Three Forks up to 36%
- Partnered with well-capitalized, proven Williston operators
- Zavanna is the leading operator on the position – operated leasehold represents core area of development
- Zavanna actively drilling in Stockyard area where Crystal has 5 Bakken and 9 Three Forks PUDs
- Other Williston E&Ps that operate portions of the position include Petro-Hunt and Chord Energy (Whiting/Oasis)
- NTM PDP Cash Flow: $13 MM (3-Yr Cum Cash Flow: $28 MM)
- 1,100 boepd (103 horizontal PDPs in core Williston)
- High average WI: 13.2%
- PDP PV-10: $47 MM
- Total PV-10: $80 MM
- 85 Bakken and Three Forks PUD locations de-risked by significant well control
- Primarily operated by Zavanna (Stockyard and Catwalk)
Bids are due at noon CST Sept. 15.
2022-10-04 - Vendera Resources retained PetroDivest Advisors for the sale of its operated, HBP footprint in the Anadarko Basin comprised of roughly 2,550 net acres and 26 low-decline vertical wells located in the Texas and Oklahoma Panhandle.
2022-10-03 - Rising Phoenix Royalties retained TenOaks Energy Advisors for the sale of a diversified mineral and royalty portfolio across several basins in the continental U.S. including the Williston, D-J, Wind River, Permian and Appalachian basins.
2022-09-30 - Hunt Oil Co. retained EnergyNet for the sale of 4,001 contiguous, multi-bench, HBP net leasehold acres in Harrison County, Texas, through a sealed-bid offering.
2022-09-30 - Forge Interests LP retained Detring Energy Advisors for the sale of its oil and gas overriding royalty interests (ORRI) located in the active core of the southern Delaware Basin.
2022-09-28 - Also in this week's A&D Minute: Momentum Midstream establishes a leading position in the Haynesville through the acquisitions of Midcoast's East Texas business and Align Midstream.