The following information is provided by Detring Energy Advisors. All inquiries on the following listings should be directed to Detring Energy Advisors. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Double Eagle Royalty LP is offering for sale its oil and gas mineral and royalty interests located throughout the core of the Delaware Basin. Double Eagle has retained Detring Energy Advisors as its exclusive advisor relating to the transaction.
The assets offer an attractive opportunity to acquire a sizable footprint in the highest-returning basin in the Lower 48, with near-term cash flow poised to substantially increase from ~45 hz producers and ~35 hz wells in-progress/permits. 35 hz rigs are currently running within 2 miles of the properties.
- ~2,556 Net Royalty Acres (Normalized to 1/8 Royalty)
- County Split: 46% Reeves, 17% Ward, 14% Winkler, 9% Pecos, 8% Culberson, 6% Loving
- ~$1MM Annual Net Cash Flow
- ~90 boe/d net production
- 85 active producers (43 Hz / 42 Vt)
- Cash Flow Poised to Increase with Substantial Near-Term Hz Development
- 14 hz wells in-progress (0.6% RI)
- 20 hz permits (avg. 0.8% RI)
- 35 hz rigs running within 2 miles of Double Eagle properties
- Assets Located in the Most Active & Economic Basin in the U.S.
- >200 hz rigs currently running in the Delaware Basin
- Operators currently developing 30+ hz wells per section, with 200+ MMBo/sec OOIP across the prolific Wolfcamp & Bone Spring horizons and EUR’s reliably exceeding 1.5 MMBoe
- Superior economics (100+% ROR) continue to attract substantial capital in the current pricing environment
- Evaluation materials available via the Virtual Data Room (VDR) on Jan. 29
- Data room presentations available upon request
- Proposals due on Feb. 21
George Solich’s FourPoint will join forces with Double Eagle to form DoublePoint with more than 70,000 acres in the core of the Midland Basin.
For years, the hinterlands of the Permian Basin have suffered, yet E&Ps in the Delaware and Midland basins are returning to the periphery of the play, and many of them have something to prove—or at least prove up.
Egypt expects investments of at least $750 million to $800 million in the first stage of exploration in the 12 concessions, Petroleum Minister Tarek El Molla said during a press conference.