The following information is provided by TenOaks Energy Advisors LLC. All inquiries on the following listings should be directed to TenOaks. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Fivestones Energy LLC retained TenOaks Energy Advisors as its exclusive adviser in connection with the sale of certain operated properties within the Permian’s Central Basin Platform in Andrews County, Texas.
Asset Highlights:
- Established Productivity from Multiple Prolific Targets
- Recent net production: 400 barrels of oil equivalent (67% oil)
- Wells completed in the Clearfork, San Andres, Wichita Albany and Wolfcamp
- Annualized 2018 PDP cash flow: $4.8 million
- Total Proved PV-10 Value: $70.0 million (Proved Developed PV-10 Value: $21 million)
- Proven Upside Story with Favorable Economics
- Several low-risk deepening and infill drilling opportunities underpinned by Fivestones’ recent, successful development program
- Compelling case for horizontal Clearfork and Wichita Albany development predicated on offset activity by ConocoPhillips Co. and Apache Corp.
- IRRs ranging from 60%-100% on most upside projects
Bids are due Oct. 25. For information visit tenoaksenergyadivsors.com or contact B.J. Brandenberger, partner with TenOaks, at bj.brandenberger@tenoaksadvisors.com or 214-420-2323.
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