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.
A private seller is offering a high-interest minerals opportunity in the Southern Midland Basin. This lot includes 6,510 Net Royalty Acres (100% minerals), ~7MM in NTM cash flow from 22 producing hz wells and 10 hz DUC's and permits, offering line-of-sight growth through mid-2024. The private seller has retained Detring Energy Advisors as its exclusive advisor relating to the transaction.
Asset Highlights:
- $6.8MM NTM Cash Flow; PDP + Line-of-Sight
- Active growth underwritten by high-interest DUCs (2) and permits (8)
- Average RI of ~5% across imminent near-term locations
- 27 producing wells (22 horizontal) provide a stable cash flow
- Net Prod: 290 Boed (71% liq.)
- PDP PV10: $14MM
- 6,510 Net Royalty Acres; 100% Minerals | 6.7% Avg. RI
- Dense NRA per section provides
material uplift with every new well or
pad developed across the position- 8 section gross footprint of 5,120
acres with high unit royalty interest
ranging from 2.8%-15.3%
- 8 section gross footprint of 5,120
- Key operators include Pioneer, Hibernia, Driftwood, & Henry
- Recent leasing to spur dev. activity
- Dense NRA per section provides
- 76 PUD Locations; Footprint Only 30% Developed
- Significant remaining locations and
anticipated lease bonus offer material
medium-term growth and longevity
over asset life- 3P PV10: $91MM ($241MM PV0)(1)
- 3P Net Reserves: 6.4 MMBoe
- Operators actively extending Wolfcamp A & B development across and beyond Seller’s position
- Three Wolfcamp targets (WCA,
WCB Upper, WCB Lower) offer
>100% avg. IRR
- Three Wolfcamp targets (WCA,
- Significant remaining locations and
Bids are due on June 7. For complete due diligence information, please visit detring.com or email Melinda Faust, managing director, at mel@detring.com.
Recommended Reading
Marketed: Delaware Basin AFE Interests Divestiture
2024-07-17 - Armstrong Energy Corp. and Slash Exploration have retained RedOaks Energy Advisors for a sale of certain wellbore-only AFE interests located in Lea County, New Mexico.
Marketed: Henry Energy Non-op Delaware Basin Divestiture
2024-08-26 - Henry Energy LP has retained RedOaks Energy Advisors for the sale of certain non-operated working interest properties in Reeves County, Texas.
Solaris to Acquire Mobile Energy Rentals, Rename to Solaris Energy Infrastructure
2024-07-10 - Following the closing of its deal to acquire Mobile Energy Rentals, Solaris Oilfield Infrastructure will also be rebranding to Solaris Energy Infrastructure to more closely represent its expanded solutions offerings.
Come Together: California Resources, Aera Merge for Scale, Drilling Runway
2024-07-10 - California Resources Corp. closed an acquisition of Aera Energy to become California’s top oil and gas producer. Now, CRC President and CEO Francisco Leon wants to grow from a one-rig to an eight-rig drilling program—but faces stiff pushback from regulators and environmental advocates in the Golden State.
Blackstone Buys Enagás’ Tallgrass Stake for $1.1 Billion
2024-07-11 - Spain’s Enagás is selling its Tallgrass Energy interests to Blackstone Infrastructure Partners in exchange for some needed capital.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.