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.
Atinum Energy Investments LLC has retained Detring Energy Advisors to market for sale its nonoperated producing properties, leasehold and related assets concentrated in West Virginia's Marshall and Wetzel counties.
According to Detring, the assets offer an attractive opportunity to partner with a premier, highly-active operator (Tug Hill Operating) actively developing core dry gas Utica and liquids-rich Marcellus inventory with about 38% average working interest.
Highlights:
- About 8,100 net acre non-operated position in a world-class stacked-pay environment
- About 38% average Working Interest | about 83% Net Revenue Interest (8/8ths)
- Core liquids-rich Marcellus and dry gas Utica offers diversified commodity exposure/optionality
- Extensive infrastructure in-place
- Nearly 100% of future development from existing pads
- Robust operating cash flow (about $5 million next 12 months PDP)
- Net Production: about 31 MMcfe/d
- PDP: $38 million PV-10 value (90 Bcfe net reserves)
- Partnership with a premier, highly active operator (Tug Hill Operating)
- Tug Hill aggressively delineating the Utica as the current price environment favors dry gas
- Continuous two to three rig development program with 21 AFEs received year to date representing $200 million-plus gross D&C capital
- 16 Utica plus Five Marcellus proposals
- Highly-economic development at current commodity prices
- Dry gas Utica (Point Pleasant):
- 60+ identified locations (11 PUD)
- About 3.1 Bcf/1,000-ft EUR yielding 40%+ IRRs at current strip
- About 2.5-year pay-out
- Liquids-rich Marcellus:
- 30-plus identified locations (28 PUD)
- About 2.5 Bcfe/1,000-ft EURs yielding 20%-plus IRRs at current strip
- Dry gas Utica (Point Pleasant):
Process Summary:
- Evaluation materials available via the Virtual Data Room June 17
- Proposals due on July 22
For information visit detring.com or contact Melinda Faust at mel@detring.com or 512-296-4653.
Recommended Reading
Sitio Royalties Dives Deeper in D-J with $150MM Acquisition
2024-02-29 - Sitio Royalties is deepening its roots in the D-J Basin with a $150 million acquisition—citing regulatory certainty over future development activity in Colorado.
UK’s Union Jack Oil to Expand into the Permian
2024-01-29 - In addition to its three mineral royalty acquisitions in the Permian, Union Jack Oil is also looking to expand into Oklahoma via joint ventures with Reach Oil & Gas Inc.
EIA: E&P Dealmaking Activity Soars to $234 Billion in ‘23
2024-03-19 - Oil and gas E&Ps spent a collective $234 billion on corporate M&A and asset acquisitions in 2023, the most in more than a decade, the U.S. Energy Information Administration reported.
Marketed: Private Seller Certain Royalty Properties in D-J Basin
2024-02-13 - A private seller retained RedOaks Energy Advisors for the sale of certain royalty properties in the D-J Basin.
TotalEnergies, Sinopec to Develop SAF Unit in China
2024-03-26 - TotalEnergies and Sinopec’s production unit will have the capacity to produce 230,000 tons of sustainable aviation fuel per year.