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

Lime Rock Resources has retained Detring Energy Advisors to market for sale its operated, contiguous, 100% HBP Norge Marchand Sand Unit located in western Grady County, Oklahoma.  The assets offer an attractive opportunity to acquire substantial liquids-weighted production generating ~$12MM of NTM PDP cash flow, with multiple development and production optimization projects including highly-economic Marchand horizontal locations, vertical re-frac’s, returns to production and waterflood optimization.

Highlights:

  • Substantial Liquids-Rich Production Base
    • Current net production: 1 MBoed (50% oil / 75% liquids)
      • PDP PV10: $45MM
      • PDP Net Reserves: 3.3 MMBoe
      • Well Count: 65 producers (59 verticals / 6 horizontals)
    • Sizeable base of low-decline, predictable cash flow
      • PDP NTM Cash Flow: $12MM
      • 13% NTM Decline (11% 2024E)
      • Low lifting costs of $12.40/Boe
  • Operated & HBP Waterflood
    • Large, operated, and contiguous footprint of ~12,000 gross acres
      • 100% HBP across multiple formations provides complete operational control with the opportunity for value-add projects
      • Assets offer attractive optionality with exposure to the liquids-rich Marchand and gas-rich Medrano
      • Efficient operations allowed by concise footprint (~8x4 miles)
    • Attractive royalty burden at ~86% NRI 8/8th (average 78% WI / 67% NRI)
  • Large Inventory of Economic Development Opportunities
    • Ten high-impact undeveloped locations identified for Marchand horizontal development boasting attractive IRRs
    • Significant pipeline of 16 low-risk return-to-production & re-frac projects
    • Substantial 3P PV10 ($69MM) and net reserves (7.1 MMBoe)
Lime Rock Resources

Proposals are due on Feb. 8. Upon execution of a confidentiality agreement, Detring will provide access to the Virtual Data Room, which opens Jan. 11.

For more information visit detring.com or contact Linda Fair, marketing coordinator, at linda@detring.com or 214-727-4996.

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