Marketed: Ichor Energy Operated Conventional Oil Assets

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

Ichor Energy LLC retained Stephens Inc. as its exclusive adviser to sell the company’s operated conventional oil assets in a single cash transaction. The primary acreage is located near the Texas-Louisiana border in the Hackberry reservoirs.

Highlights:

• Material Texas and Louisiana Hackberry Footprint with Operational Control
  • Primary acreage located near the Texas-Louisiana border
  • Vast majority operated on a PV-10 basis
    • PV-10 Weighted Working Interest: ~93% | Net Revenue Interest: ~64% (~69% lease Net Revenue Interest)
    • Note, Petrodome is the operator of record for operated well locations
  • Reserves based upon an updated mid-year Netherland Sewell (NSAI) report; over 80% of PDP value from Hackberry producers
• Long-lived Production Provides Stable Cash Flow
  • 2022E Net Production: ~1,350 boe/d
    • Forecasts based on NSAI mid-year report, not including probable producing forecasts
  • PDP PV-10: ~$80 million
    • Next 12-month Average PDP Decline: ~10%
    • Next 12-month PDP Cash Flow: ~$20 million
    • PDP R/P: ~10 years
• Significant Resources Potential From Asset Base
  • Development potential includes return to production, artificial lift, behind pipe and new drill opportunities
  • Future development is self-funding, with low drilling costs in conventional reservoirs accessible with vertical wells
  • Nine PDNP opportunities quantified
  • Nine PUD locations quantified

Bids are due Feb. 4. The transaction is structured as a sale of assets with an effective date of Jan. 1.

A virtual data room is available. For information visit stephens.com or contact Max Young, Stephens associate, at Max.Young@stephens.com.