The following information is provided by EnergyNet. All inquiries on the following listings should be directed to EnergyNet. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Finley Resources retained EnergyNet Indigo for the sale of a Delaware Basin opportunity comprising an acreage position consisting of three leases limited to the Wolfcamp Formation in the Permian in Ward County, Texas.
Asset Overview:
- 11 wells including eight Wolfcamp horizontals
- Two newly proposed horizontal Wolfcamp wells (elected to participate)
- Average Working Interest ~19% / Average Net Revenue Interest ~16%
- Current net production 348 boe/d (81% liquids)
- Six-month average net income: $440,000/month
- 1,283 gross (432 net) leasehold acres
- 100% HBP
- Three existing horizontal DSUs
- 15% average royalty burden
- Undeveloped locations in proven stacked Wolfcamp targets
- Multiple horizons de-risked throughout position with strong well performance in and around leasehold
- Wolfcamp A Upper
- Wolfcamp A Lower
- Wolfcamp B
- Wolfcamp C
- 34 undeveloped locations at modest development spacing
- Existing DSUs enable full development with two-mile laterals
- Compelling single well economics for full undeveloped inventory
- Average EUR 1.4 MMboe (10,000 ft)
- Average IRR 56%
Bids are due March 10. The transaction is expected to close in March with an effective date of Feb. 1.
A virtual data room is available. For complete due diligence information visit indigo.energynet.com or email Zachary Muroff, vice president of business development, at Zachary.Muroff@energynet.com, or Denna Arias, vice president of corporate development, at Denna.Arias@energynet.com.
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