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.
Finley Resources Inc. retained Eagle River Energy Advisors LLC for the sale of nonop Powder River Basin assets in Wyoming through an offering closing July 17.
The offer comprises certain nonoperated working interests and associated development rights in Campbell and Converse counties, Wyo.
- About 5,021 net nonoperated leasehold prospective to active horizontal target intervals
- 90% HBP / 10% Term
- 23 well proposals received from Anadarko/Occidental Petroleum Corp. (9), Peak Resources Ltd. (4), Devon Energy Corp. (2), Navigation Petroleum LLC (2) and others (6)
- Target intervals include the Parkman, Shannon, Niobrara, Frontier/Turner, Mowry and others
- About 62 barrels of oil equivalent per day (boe/d) net production (83 PDP wells)
- 69% Oil / 19% Gas / 12% NGL
- About $45,000 per month net cash flow (Three-month LOS average)
- Significant 2019 cash flow anticipated from 23 proposed wells or wells currently under development
- Additional upside remaining in future horizontal drilling with leasehold rights to intervals under active development
- Compelling drilling economics from multi-stacked pay intervals, achieving internal rate of returns as high as 65%
Eclipse Resources and Blue Ridge Mountain completed its all-stock merger, forming Montage Resources, a new Appalachian Basin shale producer with its sights set on cash flow neutrality.
Diamondback Energy had initially planned for its Rattler Midstream subsidiary to make its public debut last year but was stopped by tough market conditions thanks to commodity volatility.
GE plans to fully separate from Baker Hughes in an “orderly manner” over the next two to three years as it targets a leaner corporate structure.