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.
EnCap Investments LP has retained Detring Energy Advisors to market for sale certain of its oil and gas mineral and royalty interests located in Jefferson, Belmont, and Harrison counties, Ohio, within the core of the dry gas Utica Shale play.
The assets offer an attractive opportunity to acquire a concentrated, core position underneath premier Utica-focused operators generating world-class well results and superior economics, according to Detring.
- About 6,325 Net Royalty Acres (at 1/8) | 93% HBP
- Overriding Royalty Interests (ORRI) located throughout the core of the prolific Utica Shale play
- Substantial OGIP across contiguous acreage position and under top operators including Ascent, Gulfport, Hess and XTO
- Significant near-term development potential with about 3,340 net royalty acres (more than 50%) contained within existing horizontal drilling units
- ORRI retained for any leases re-leased within 12 months of expiration
- About $6 million Cash Flow (last 12 months) | About 8 million cubic feet equivalent per day Net Production
- About 150 producing wells with average of about 0.7% Royalty Interest
- Strong on-lease activity averaging more than five wells completed per month (last 12 months), with three rigs currently running and 31 wells in-progress on-lease
- Gross production and revenue of more than 1.5 billion cubic feet per day (Bcf/d) and about $1.5 billion per year, respectively
- Prolific Well Results in Core Utica Dry Gas Window
- EnCap’s position is bracketed by superb well results averaging about 2.4 Bcf per thousand lateral feet (EUR) from the Utica/Point Pleasant Shale
- Evaluation materials available via the virtual data room on Oct. 15
- Data room presentations available on request
- Proposals due on Nov. 14
The Midland Basin, located within the eastern region of the Permian Basin, has seen a steady amount of new E&P activity since 2011.
The seven companies that control half the federal supply onshore in the Lower 48 states have leases and permits in hand that could last years.
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