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.
Daylight Petroleum LLC retained Detring Energy Advisors to market for sale certain of its oil and gas leasehold, producing properties and related assets located in various counties in northern Texas.
The assets offer an attractive opportunity, Detring said, to acquire a robust, stable production base with an oil-weighted product mix and long-term cash flow bolstered by attractive operating margins plus multiple opportunities for further field development through horizontal targeting of conventional reservoirs and continuation of an ongoing return-to-production program.
- Oil-Weighted Production (330 net boe/d and $6.5 million next 12-month cash flow)
- Daylight’s multiple operated fields across north Texas offer unique access to robust conventional production
- Low decline (8%) oil-weighted production (92% oil) provides confidence in future performance
- PDP PV-10: $30 million
- PDP Net Reserves: 1.7 MMboe
- PDP R/P: 14 years
- High-margin cash flow resilient to any price environment
- $19/boe lifting costs
- 70% margin on next 12-month revenue
- Ongoing RTP and Horizontal Programs Drive Cash Flow Growth
- Proven, low-cost return-to-production (RTP) and horizontal development programs maintain and enhance asset value
- Daylight has consistently brought additional wells online since 2018 as part of an extensive RTP campaign
- 100+ additional candidates enable production uplift and maintenance
- Two highly economic horizontal PUDs targeting reef structures identified
- Additional horizontal potential remains across the position
- Line-of-sight to ~$20 million PV-10 through identified RTP and horizontal development candidates
- 14,900 Net Acres (PDP Average 87% Working Interest | 70% Net Revenue Interest)
- Diverse fields across north Texas contain multiple opportunities for further development & uplift
- Asset is 100% operated by Daylight Petroleum
- 159 producing wells with distributed value and low concentration risk
- Acreage position is 100% HBP
- Evaluation materials available via the Virtual Data Room on May 11
- Bids are due on June 15
2022-11-30 - Also in this week’s A&D Minute: Who’s been quietly buying acreage in the Permian Basin? Plus see what else is on new mid-cap powerhouse Permian Resources’ radar.
2022-09-19 - Cheniere Energy and subsidiaries of Whistler Pipeline will move forward with the construction of a new 43-mile pipeline as part of plans to send more natural gas from the Permian Basin for export as LNG.
2022-09-23 - Continental Resources Inc. retained EnergyNet for the sale of a 200-well package of conventional and unconventional assets in Oklahoma’s STACK play within the prolific Anadarko Basin.
2022-09-21 - Here’s a quicklist of oil and gas assets on the market including EOG Resources Texas Panhandle properties plus an Apache Corp. Gulf of Mexico Shelf nonop opportunity.
2022-09-21 - Also in this week’s A&D Minute: SilverBow Resources’ $50 million acquisition provides a new position in this South Texas gas play and U.S. Energy Development Corp. recently acquired core Permian Basin acreage for more than $60 million.