The following information is provided by Detring Energy Advisors. All inquiries on the following listings should be directed to Detring Energy Advisors. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.

Finley Resources retained Detring Energy Advisors for the sale of non-operated oil and gas leasehold, producing properties, and related assets concentrated in Lea County, New Mexico and Ward County, Texas. The assets provide an attractive opportunity to acquire: (i) 1,160 Boed of oil-weighted net production (70% oil) from ~150 producing horizontal wells; (ii) $19MM in next-twelve-months operating cash flow (PDP + Near-Term/WIP); and (iii) 60+ additional PUD locations across six target horizons with superior economics via high lease NRI (87%) ensuring continued development within operator portfolios.

Delaware Basin non-op opportunity
(Source: Detring Energy Advisors)

Asset Highlights:

  • $19MM NTM Op. Cash Flow | PDP + Line-of-Sight Development
    • Ongoing development under Coterra & Tap Rock in core Northern Delaware accelerates near-term value
      • 70 wells TIL over last 12 months
      • 19 current DUCs and permits
    • 169 producing wells (149 hz) provide cash flow underpinning future development
      • PDP/WIP PV10: $65MM
    • Current net production of 1,160 Boed grows to 1,370 Boed March 2024
  • Core Delaware Basin | 656 Net Acres | 87% Lease NRI
    • Access to core units supporting dense development including high-value “State-Line” units operated by Tap Rock and Coterra
    • High-interest non-op. exposure to basin-focused operators Tap Rock, Coterra, Revenir, and Battalion
      • Avg. 3.5% WI / 3.0% NRI
  • 60+ PUD Locations | Assets Only 70% Developed
    • Highly economic locations across 60+ locations and 6 hz targets warrant future full development
      • 3P PV10: $118MM
      • 3P Net Reserves: 7.6 MMBoe
    • Ongoing Wolfcamp, Bone Spring, & Avalon development with additional unquantified long-term potential
    • World-class Delaware Basin results generate 220+ Boed/Mft IP30 (avg.)
      • 3x+ Discounted ROI across all major targets ensures continued allocation of operator capital

Bids are due Wednesday, May 17. For complete due diligence information, please visit detring.com or email Melinda Faust, managing director, at mel@detring.com.