The following information is provided by Oil & Gas Asset Clearinghouse LLC. All inquiries on the following listings should be directed to Clearinghouse. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Northwestern Production LLC retained Oil & Gas Asset Clearinghouse LLC to market for sale its operated working interest in North Dakota’s Billings County.
Asset Overview:
- Operated working interest in 22 wells
- 5,520 gross acres limited to the Tyler formation
- 97.8% working interest / 81.9% net revenue interest average ownership
- Nonoperated working interest in two wells:
- 2.5% working interest / 2.1% net revenue interest average ownership
- PDP production and cash flow
- 141 gross / 40. 8 net bbl/d of oil average production (September 2021 - Feburary 2022)
- $87,524 / month average net cash flow (January 2022 - March 2022)
- PDP PV-10: $9.09 million
Upside Development:
- Pilot Miscible Gas Flood (MGI) program conduction from fourth-quarter 2018 to first-quarter 2020
- MGI expansion plan provides significant production through four phases
- Total capex: $10.65 million
- Total MGI and locations PV-10: $75.3 million
- EUR - 3,981 Mbbl
Bids are due May 12. A virtual data room is available.
The presentation effective date is June 1. The sale effective date is the first of the month of closing.
For information visit ogclearinghouse.com or contact Dan Rowten at drowten@ogclearinghouse.com or 405-467-1835.
Recommended Reading
SilverBow Saga: Investor Urges E&P to Take Kimmeridge Deal
2024-03-21 - Kimmeridge’s proposal to combine Eagle Ford players Kimmeridge Texas Gas (KTG) and SilverBow Resources is gaining support from another large investor.
Benchmark Closes Anadarko Deal, Hunts for More M&A
2024-04-17 - Benchmark Energy II closed a $145 million acquisition of western Anadarko Basin assets—and the company is hunting for more low-decline, mature assets to acquire.
Analyst: Chevron Duvernay Shale Assets May Sell in $900MM Range
2024-01-29 - E&Ps are turning north toward Canadian shale plays as Lower 48 M&A opportunities shrink, and Chevron aims to monetize its footprint in Alberta’s Duvernay play.
Uinta Basin's XCL Seeks FTC OK to Buy Altamont Energy
2024-03-07 - XCL Resources is seeking approval from the Federal Trade Commission to acquire fellow Utah producer Altamont Energy LLC.
Mesa III Reloads in Haynesville with Mineral, Royalty Acquisition
2024-04-03 - After Mesa II sold its Haynesville Shale portfolio to Franco-Nevada for $125 million late last year, Mesa Royalties III is jumping back into Louisiana and East Texas, as well as the Permian Basin.