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
E&P Highlights: Sept. 9, 2024
2024-09-09 - Here’s a roundup of the latest E&P headlines, with Talos Energy announcing a new discovery and Trillion Energy achieving gas production from a revitalized field.
US Drillers Cut Oil, Gas Rigs for Fourth Week in a Row
2024-09-06 - The oil and gas rig count fell by one to 582 in the week to Sept. 6, the lowest since June.
Interoil to Boost Production in Ecopetrol Fields
2024-09-03 - Interoil will reopen shut-in wells at three onshore fields, which are under contract by Ecopetrol.
Chevron Boosts Oil, NatGas Recovery in Gulf of Mexico
2024-09-03 - Chevron’s Jack/St. Malo and Tahiti facilities have produced 400 MMboe and 500 MMboe, respectively.
Breakthroughs in the Energy Industry’s Contact Sport, Geophysics
2024-09-05 - At the 2024 IMAGE Conference, Shell’s Bill Langin showcased how industry advances in seismic technology has unlocked key areas in the Gulf of Mexico.
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.