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.
Kaiser-Francis Oil Co. is exiting its entire Arkoma Basin working interest position and has retained EnergyNet Indigo as the exclusive advisor to assist with the sale of both operated and nonoperated horizontal and conventional assets with strong cash flow and significant operated infill drilling opportunities. The 542 well package and gas gathering system is located in various counties in Arkansas and Oklahoma.
Highlights:
Kaiser-Francis Oil Co. is exiting its entire Arkoma Basin working interest position providing buyers an opportunity to acquire both operated and nonoperated horizontal and conventional assets with strong cash flow and significant operated infill drilling opportunities.
- Meaningful acreage position in de-risked Woodford and Mayes plays with significant infill drilling potential offsetting recent completions with excellent production. Majority of infill drilling potential is operated, therefore providing control of development pace. ~160,700 gross and ~27,800 net acres.
- Over 200 gross drilling locations, 62% of total location PV-10 is operated.
- 386 Bcf net, of which 247 Bcf net is operated
- ~9.8 MMcfe/d of low decline, historically stable net production, total PDP next 12-month cash flow of $9.1 million, of which $5.1 million is operated at March 1 pricing (83% horizontal)
- Operated average working interest of ~72.9% and net revenue interest of ~59.2% in 66 wells
- Robust PDP PV-10 of $46.7 million at March 1st pricing (59% operated)
- Nonoperated conventional position spanning the Arkoma Basin with experienced operators including Merit Energy, BRG Energy, Mustang Fuel, XTO Energy and Blackbeard Operating
- Next 12-month cash flow of $4.0 million at March 1st pricing (89% horizontal)
- Nonoperated average working interest of ~8.6% and net revenue interest of ~6.9% in 420 wells
Sealed bids are due by 4 p.m. CDT on April 7. Effective date of sale is May 1.
A virtual data room is available. For complete due diligence information visit indigo.energynet.com or email Ethan House, vice president of business development, at Ethan.House@energynet.com, or Denna Arias, vice president of corporate development, at Denna.Arias@energynet.com.
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