The following information is provided by Eagle River Energy Advisors LLC. All inquiries on the following listings should be directed to Eagle River. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Eagle River Energy Advisors LLC has been exclusively retained by White Rock Oil & Gas LLC to divest certain operated and nonoperated working interest assets in Michigan.
The assets provide the opportunity to acquire a mostly oil-weighted production stream of 87 net boe/d. Additionally, this package has 2,586 net acres well diversified over 29 PDP wells, with a low operating cost of $17.72/boe, Eagle River said. Lastly, this asset has a PDP PV-10 value of $7.1 million as well as a next 12-month forecasted net cash flow of about $1.6 million.
- Diversified Shallow Decline Oil Production
- Production of 87 net boe/d is 87% oil (forecasted November 2022)
- Mature and consistent production with average well age of 26 years
- High operational control asset with 83% average working interest on operated assets
- 29 PDP wells; 10 Operated, 19 Nonop
- Shallow forecasted decline rate of ~9%
- Highly Profitable Asset
- Operating costs of $17.72/boe (last 12-month average)
- Last 12-month net cash flow = $1.3 million
- PDP PV-10 = $7.1 million; PDP PV-20 = $4.8 million
- Additional opportunities with waterflood installation, new horizontal drilling in Niagran Reefs, and acid cleanouts
Bids are due by 4 p.m. MT on Nov. 18. The transaction effective date is Nov. 1.
A virtual data room will be available starting Oct. 21. For information contact Chris Martina, technical director at Eagle River, at 720-726-6092 or email@example.com.
2023-01-20 - John Reinhart will succeed Tim Cutt, who will maintain his role as chairman of the board of directors.
2022-12-01 - Exxon Mobil and Mitsubshi Heavy Industries announced the combination of carbon capture technologies.
2022-12-09 - The annual supplier recognition award is based on performance, service quality and responsiveness.
2022-12-16 - Funding from Svante's Series E fundraising round will go toward the construction of a commercial-scale manufacturing facility for its carbon capture filters.
2023-01-03 - James Holcomb previously served as president of Patterson-UTI Drilling Co., while Mike Garvin served as senior vice president.