The following information is provided by Houlihan Lokey Capital Inc. All inquiries on the following listings should be directed to Houlihan Lokey. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
CL Energy Rockies LLC is offering for sale liquids-weighted properties with substantial inventory located in the Denver-Julesburg (D-J) Basin.
CL Energy, managed by investment firm Crestline Investors Inc., has retained Houlihan Lokey Capital Inc. as its exclusive financial adviser to assist with this transaction.
- Attractive Nonoperated Position
- Current net production rate as of July 2018: 1,723 boe/d (343 bbl/d of oil, 5.176 MMcf/d of gas, 518 bbl/d of NGL)
- About 260 net acres in D-J Basin with 137 existing horizontal wells
- 130 producing with an average Working Interest of 18.9%
- Seven non-producing with an average Working Interest of 43.3%
- Under premier operators including PDC Energy Inc., Encana Corp., Extraction Oil & Gas Inc.
- Incremental upside via documented history of authority for expenditure (AFE) assignments
- Predictable Production with Infill Upside
- Individual wells achieve greater than 60% internal rate of returns
- Net proved reserves of about 6.4 million boe; PV-10 value of about $62.3 million
- 60 gross proved undeveloped (PUD) locations
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