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.
EnCore Permian Holdings LP retained Eagle River Energy Advisors LLC for the sale of nonoperated Permian Basin assets in West Texas through an offering closing Nov. 14.
The offer comprises certain nonop working interest assets and associated lands in the Delaware and Midland basins of Howard and Pecos counties, Texas.
- About 238 net acres nonoperated leasehold (100% HBP)
- 7.4% average Working Interest / 0.74 net wells
- Diversified leasehold across 4 DSUs and operators
- Assets operated by publicly traded, Permian Basin focused E&P companies
- Callon Petroleum Co., Encana Corp., Jagged Peak Energy Inc. and Parsley Energy Inc.
- 10 producing horizontal wells in the Wolfcamp 'A' and Lower Spraberry
- All 10 horizontal wells brought online in 2018 - 2019
- Three drilled but uncompleted wells and one active permit to provide line of sight to near-term development
- Recent, modern completions by asset operators demonstrate drilling economics greater than 40% internal rate of return
- Significant remaining drilling inventory in proven reservoirs (Wolfcamp 'A' / Lower Spraberry) across all drill spacing units (DSUs)
- Additional stacked-pay potential across un-tested horizontal targets in each DSU (Bone Spring, Wolfcamp B - D, Upper Spraberry, and others)
Bids are due by 4 p.m. MT Nov. 14. The virtual data room will be available starting Oct. 14. The transaction is expected to have a Nov. 1 effective date.
EOG Resources plans to test about six oil and gas prospects this year with a focus on adding premium drilling locations while still lowering well costs.
Occidental Petroleum has been aggressively cutting costs by laying off staff and selling assets to pay down its $38.54 billion debt pile following its acquisition of Anadarko Petroleum.
The Houston-based company’s total production rose 11% to 78.2 million barrels of oil equivalent per day for the quarter ended Dec. 31.