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.
Eagle Land retained Detring Energy Advisors to market for sale its nonoperated wellbore-only producing assets located in Blaine and Canadian counties, Oklahoma.
The assets offer an attractive opportunity, Detring said, to acquire a balanced revenue stream in the prolific STACK play with established production (30+ months per well) and meaningful near-term cash flow ($10.7 million next 12-month PDP) that generates high-margin, healthy returns. The assets are operated by Devon Energy, a well-capitalized, regionally focused producer offering high-quality stewardship across both pad development areas, Detring added.
Highlights:
- Substantial Production Base of 1,300 net boe/d (55% Liquids)
- Production generated by 16 horizontal wells across seven pads within two development units
- PV-10 of $34.6 million
- Net reserves of 3.8 million boe
- Both units developed by Devon Energy in early 2019 utilizing modern completion techniques
- Fully developed intervals mitigate infill risk
- Production generated by 16 horizontal wells across seven pads within two development units
- Robust, Stable Cash Flow Generates Substantial Yield
- Next 12-month cash flow of $10.7 million from steady, reliable production base
- Forecast next 12-month decline of 19%
- 30+ months of historic production per well provides confidence in forecasts
- 12% forecast decline 2025E
- The assets generate healthy returns with an operating cash margin of ~$27/boe (2022E)
- Next 12-month cash flow of $10.7 million from steady, reliable production base
Process Summary:
- Evaluation materials available via the Virtual Data Room on March 7
- Bids are due March 30
For information visit detring.com or contact Melinda Faust at mel@detring.com or 512-296-4653.
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