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

Longreach Alternatives (LRA) has retained Detring Energy Advisors for the sale of its operated oil and gas assets in Andrews County in the northern Midland Basin.  The package includes 1,200 boe/d of net production.

Detring
(Source: Detring Energy Advisors)

Opportunity Highlights:

  • ~$17MM NTM PDP Cash Flow | ~1,200 Boed of Net Production | ~90% Liquids
    • Oil weighted production stream generated from 6 modern horizontal and 143 vertical wells
      • PDP Net Reserves: 3.3 MMBoe
      • PDP PV10: $60MM
    • Development program fully funded by operating cash flow
  • ~16,000 Net Acre Position | Concentrated Footprint Ready for Development
    • Large, contiguous operated position, 100% held-by-production
      • Condensed position allows for centralized facilities and operations
    • 1 active, operated SWD well handles majority of produced water
      • Additional SWD candidates on acreage
  • ~180 Remaining Locations | Highly-Economic Reserves
    • 84 Proven, 54 Probable, 40 Possible horizontal locations targeting multiple highly productive intervals
      • Robust EURs of ~900 Mboe generate IRRs up to 100%+ (average IP30 of 850 Boed)
      • 3P Net Reserves: ~80 MMBoe
      • 3P PV10: ~$560MM
    • De-risked prospects underpinned by recent on- and off-lease development
    • Large, operated prospects with developmental control
      • $850 per lateral foot of DC&F

Bids are due Dec. 15. For complete due diligence, please visit detring.com or email Melinda Faust, managing director, at mel@detring.com .

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