The following information is provided by Piper Sandler & Co. All inquiries on the following listings should be directed to Piper Sandler. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Stronghold Energy II is offering for sale its Central Basin Platform assets in the Permian Basin. Piper Sandler has been retained as exclusive financial adviser.
- ~37,000 net acres (~31,000 net leasehold acres, ~6,000 net mineral acres) largely in Crane County, Texas (~97% Average Working Interest / ~88% 8/8ths Net Revenue Interest)
- ~100% operated, ~99% HBP
- Net Production >7,000 boe/d
- March 1 PDP PV-10 of ~$400 million going to PDP PV-10 of ~$475 million by June 1 effective date
- ~500 vertical new drill locations and recompletions targeting various formations including the Glorieta, Upper Clear Fork, Tubb, Lower Clear Fork and Wolfcamp with modern completion techniques
- Average IRR of >500% and ROI of ~8.1x on currently quantified remaining inventory
- Next 12 months EBITDA of ~$200 million
- Next 12 months free cash flow of ~$130 million; Five-year free cash flow of ~$900 million
The virtual data room opens week of April 4 with data room presentations from April 11-29. Bid date is targeted for May 17.
2023-01-25 - Arena Energy's acquired interests add to the company's ownership interest in the Eugene Island 330 and South Marsh 128 fields in the U.S. Gulf of Mexico.
2022-12-30 - Marathon Oil’s transaction, along with other Eagle Ford deals — and Chesapeake Energy Corp.’s efforts to sell its South Texas position — have put the play back in the M&A spotlight.
2022-11-10 - "Together, Brookfield and Origin can support Australia’s multi-decade transition journey and accelerate our progress towards its emissions-reduction targets," Stewart Upson, Brookfield's Asia Pacific CEO, said.
2022-11-15 - TotalEnergies SE and ConocoPhillips Co. acquired Hess’ 8.16% interest in the Waha Concession in Libya in equal shares, according to the New York-based company’s release.
2022-11-16 - The acquisition of Lario Permian follows Diamondback Energy’s agreement to acquire FireBird Energy in the Midland Basin last month.