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.
Henry Resources retained TenOaks Energy Advisors as its exclusive adviser in connection with the sale of certain nonoperated working interest properties in the Midland Basin.
Transaction Overview:
- Henry operates the Melinda Lease (100% working interest) in northern Upton County
- Henry is looking to sell a 45% nonoperated working interest in the Melinda Lease, which includes 13 horizontal PDPs and five horizontal PUDs
- Henry is willing to consider various structures that ensure development of the PUDs
Key Considerations:
- Unique opportunity to partner with a leading Permian Basin operator with an impeccable 50+ year track record developing and operating Permian assets
- PDP PV-10: $30 million | Next 12-month PDP cash flow: $8 million
- Five horizontal PUDs targeting marquee zones with attractive economics (Jo Mill, Lower Spraberry, Wolfcamp A & B)
- EURs from 80-120 boe per ft.
- Development timing subject to a negotiated pace
- Six horizontal rigs currently running within a 5-mile radius
Bids are due at noon CST on Nov. 10. The transaction has an effective date of Oct. 1 and is targeted to close before year-end.
A virtual data room is available. For information visit tenoaksenergyadvisors.com or contact B.J. Brandenberger at TenOaks Energy Advisors at 214-663-6999 or BJ.Brandenberger@tenoaksadvisors.com.
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