The following information is provided by PetroDivest Advisors. All inquiries on the following listings should be directed to PetroDivest. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Jetta Operating Co. Inc. retained PetroDivest Advisors for the sale of oil and gas leasehold and mineral assets located in Lincoln Parish, La.
The package offers an attractive opportunity to acquire nonoperated interests in a roughly 4,500 gross acre area within the core of the prolific Terryville Field, according to PetroDivest, which Jetta as its exclusive adviser related to the transaction.
Highlights:
- Liquids-Rich Proved Developed Producing (PDP) Base Near Premium Gulf-Coast Markets
- Stable production base yielding significant cash flow
- About 1.4 million cubic feet equivalent per day (MMcfe/d) of net production (62% gas)
- About $1.7 million next 12 months PDP cash flow
- About $7.1 million PDP PV-10%
- Highly delineated position with 123 producing wells primarily in the Bossier / Lower Cotton Valley
- 57 horizontal producers
- 66 vertical producers
- High realized price given proximity to Henry Hub
- High margin production with more than $3 per thousand cubic foot equivalent realized net back in 2018
- Stable production base yielding significant cash flow
- Stacked-Pay Resource with Four Lower Cotton Valley Benches
- Summary of interests:
- About 136 Net Mineral Acres leasehold (average Net Revenue Interest of about 85%)
- About 11 Net Mineral Acres unleased minerals
- About 89 Net Royalty Acres at 12.5% royalty
- Position entirely operated by Range Resources
- Single-well Rate Of Returns are competitive with core Marcellus Shale
- Average EUR more than 1.6 billion cubic foot equivalent per 1,000-ft with average IP-30 over 3 MMcfe/d per 1,000-ft
- Summary of interests:
Process Overview:
- Evaluation materials available via the Virtual Data Room on April 23
- Contact Ken Reed for a confidentiality agreement at 713-595-1016 or ken@petrodivest.com
- Proposals due May 23
Recommended Reading
New Fortress Starts Barcarena LNG Terminal Operations in Brazil
2024-03-01 - New Fortress’ facility consists of an offshore terminal and an FSRU that will supply LNG to several customers.
Imperial Expects TMX to Tighten Differentials, Raise Heavy Crude Prices
2024-02-06 - Imperial Oil expects the completion of the Trans Mountain Pipeline expansion to tighten WCS and WTI light and heavy oil differentials and boost its access to more lucrative markets in 2024.
Majors Aim to Cycle-proof Oil by Chasing $30 Breakevens
2024-02-14 - Majors are shifting oilfields with favorable break-even points following deeper and more frequent boom cycles in the past decade and also reflects executives' belief that current high prices may not last.
Exclusive: Andrew Dittmar Expects Increased Public M&A in 2024
2024-02-15 - In this Hart Energy LIVE Exclusive, Andrew Dittmar, Enverus Intelligence's senior vice president, compares 2023 consolidation to what he expects in 2024, including more public to public deals.
Exxon, Vitol Execs: Marrying Upstream Assets with Global Trading Prowess
2024-03-24 - Global commodities trading house Vitol likes exposure to the U.S. upstream space—while supermajor producer Exxon Mobil is digging deeper into its trading business, executives said at CERAWeek by S&P Global.