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.

Highlights:

  • 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
Hart-Energy-October-2022_Eagle-River-Energy-Advisors-Marketed-Map_White-Rock-Oil-and-Gas-Operated-Nonop-Michigan-Asset
(Source: Eagle River Energy Advisors LLC)

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 cmartina@eagleriverea.com.

Onshore