The following information is provided by Seaport Global Securities LLC. All inquiries on the following listings should be directed to Seaport Global Securities LLC. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Vinland Energy LLC retained Seaport Global Securities LLC for the sale of its portfolio of producing and midstream assets in the southern Appalachian Basin, located primarily in eastern Kentucky.
The Vinland Kentucky assets represent an opportunity to acquire roughly 15 MMcfe/d of stable, low-decline, liquids-rich production that can be maintained or grown through a highly-efficient capital program, and that is further enhanced by a large, company-owned gas gathering and processing system, according to Seaport.
- Over 142,000 net acres of 100% operated core Appalachian acreage that is 100% HBP
- Current net production of about 15 MMcfe/d with less than a 3% annual decline
- Total proved reserves of 111 Bcfe with a PV-10 of $165 million (PDP PV-10 of $143 million); 10-year forecasted cumulative operating cash flow of $219 million
- Gas gathering and processing system with about 1,500 miles of company-owned and -operated pipeline and three NGL processing plants (total capacity of about 33 MMcf/d)
- Strong Midstream PV-10 contribution of $44 million
- Capital-efficient development plan with 4 WIPs and 20 PUDs reduces decline to nearly zero with minimal capex
- Liquids-rich development locations (62% oil), generate average IRRs of 73%
- Vertical development in the Maxon, Ravencliff and Big Lime formations
Bids are due Sept. 29. A virtual data room is available. For information contact James Libretti at email@example.com.
2022-10-03 - Houston-based SilverBow Resources entered an agreement to acquire bolt-on assets in the Karnes trough in Dewitt and Gonzales counties from an undisclosed seller for $87 million in cash.
2022-07-19 - Orion Diversified Holding has made a series of microtransactions in several basins, including the Permian and Powder River as well as the Haynesville, Niobrara and Eagle Ford shales.
2022-07-27 - Diversified Energy said it controls inflationary costs by owning the servicing companies and will retire 200 wells per year in Appalachia, far exceeding its government-mandated requirements.
2022-08-17 - U.S. independent oil and gas producers EOG, Comstock and Murphy Oil reported A&D in the Midcontinent, Rockies, Haynesville Shale and offshore amid a sporadic first half of dealmaking.
2022-09-13 - EQT’s purchase of Tug Hill and XcL Midstream’s assets in the Appalachian Basin will contribute to $150 million in long-term cash flow, Goldman Sachs said.