The following information is provided by Detring Energy Advisors LLC. All inquiries on the following listings should be directed to Detring. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Foundation Energy Management LLC retained Detring Energy Advisors LLC to market for sale its upstream and midstream oil and gas assets across Colorado, Kansas and Nebraska.
The assets—comprising robust and predictable cash flow from shallow-decline production with healthy margins—are located in Colorado’s Yuma, Washington, Phillips and Lincoln counties, Kansas’ Cheyenne and Sherman counties and Nebraska’s Chase and Dundy counties.
Foundation will entertain bids on either or both upstream and midstream asset packages, according to Detring.
Highlights:
- Upstream Operations:
- Robust Operating Cash Flow ($7 million next 12-month PDP) and Production (13.1 MMcfe/d, net)
- 9% next 12-month decline from ~2,200 wells underpins stable production profile
- PDP PV-10 of $26.4 million
- Net reserves of 54.9 Bcfe (PDP only)
- Resilient cash flow stream ensured by low operating expenses and healthy margins
- ~$1.73/Mcf operating cash margin
- Turn-key business unit inclusive of five yards outfitted with substantial inventory including high-value equipment and materials to support continued asset operations
- Robust Operating Cash Flow ($7 million next 12-month PDP) and Production (13.1 MMcfe/d, net)
- Midstream Operations:
- 100% ownership in extensive gathering and transportation infrastructure gives mission critical control over operations and cost efficiencies
- Over 650 miles of pipeline and 24,000 HP of compression
- Long-lived production base inclusive of true third-party producers with an 8% annual decline through 2026
- ~$1.6 million next 12-month EBITDA on current throughput of ~18,400 Mcf/d
- 100% ownership in extensive gathering and transportation infrastructure gives mission critical control over operations and cost efficiencies
Process Summary:
- Evaluation materials available via the Virtual Data Room on June 30
- Proposals due on July 28

The seller anticipates executing a purchase and sale agreement by late August and closing by mid-October, Detring said.
For information visit detring.com or contact Melinda Faust at mel@detring.com or 512-296-4653.
Recommended Reading
ESG Strategy: Battling Climate Change Alongside Inflation
2022-08-09 - While establishing energy security is currently the main priority of oil and gas companies, many haven’t forgotten the importance of allocating attention and funds combating climate change, experts say.
Energy Crisis Prompts ESG Rethink on Oil and Gas
2022-07-18 - Investors are starting to look more favorably on oil and gas companies because of their role in the transition to a decarbonized economy.
Executive Q&A: Talos Energy’s Trina Engels Talks CCS, ESG Strategy
2022-07-13 - In an exclusive interview with Hart Energy, Trina Engels, director of ESG at Talos Energy, discussed the company’s carbon capture initiatives and how the company is looking beyond the ‘E’ of ESG.
SEC’s Climate Disclosure Rules ‘Injects Confusion,’ Industry Claims
2022-06-29 - From BlackRock to shale producer CNX Resources, several groups in the industry expressed concerns over the SEC’s mandatory call to report Scope 3 emissions.
Project Canary, Quantum Energy Partner to Facilitate Improvements in ESG Performance
2022-06-10 - The companies will collaborate to facilitate improvements in ESG performance through the provision of sustainability-linked financings and third-party continuous emissions monitoring data.