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.
Midwest Energy Investments LLC retained Eagle River Energy Advisors LLC for the sale of mineral, lease and overriding royalty interest (ORRI) assets and associated development rights in the Stack play of Oklahoma.
- About 1,166 Net Royalty Acres (Normalized to 1/8th)
- Minerals: 1,016 Net Royalty Acres (23% Average Royalty Rate)
- ORRI: 150 Net Royalty Acres across 104 Drilling and Spacing Units
- 32 Net Leasehold Acres (82% Average Net Revenue Interest)
- About 112 Boe/d net production (67% Liquids)
- $111,000 per month net cash flow (Average April-September 2019)
- 171 Proved Developed Producing wells provide stable and diversified production profile
- 16 Drilled but Uncompleted wells and 62 proposed wells provide near-term upside
- Signficant remaining Reserves with 900,000 to 2.8 million boe EURs from multibench development across the acreage
- Economic development of the Woodford and Mississippian yield internal rate of returns greater than 50%
- 500-plus remaining, economic drilling locations provide multiple years of stacked-pay development potential
- Recent successful Woodford and Mississippian delineation across entire position
- Additional, unquantified resources potential in multiple other formations currently being tested
- Portfolio operators include Continental Resources Inc., Devon Energy Corp., EOG Resources Inc., Cimarex Energy Co., Marathan Oil Corp. and Encana Corp. (currently operating as Ovintiv Inc.)
- Portfolio operators actively permitting and are drilling with 32 of 53 total active rigs in the Basin
Bids are due 4 p.m. MT March 10. Virtual data room opens Feb. 11. The transaction is expected to have a March 1 effective date.
2022-08-09 - BPX Energy President Jack Collins said the company is planning to power 95% of its Permian Basin operations with electricity this year and is drilling an exploratory well for its carbon capture business.
2022-07-13 - In an exclusive interview with Hart Energy, Trina Engels, director of ESG at Talos Energy, discussed the company’s carbon capture initiatives and how the company is looking beyond the ‘E’ of ESG.
2022-06-10 - “Exxon made more money than God this year,” Biden said in a speech to dockworkers and union representatives at the Port of Los Angeles. U.S. oil companies are not using profits to drill more but to buy back stock, he added.
2022-06-10 - Oil prices sank along with Wall Street stocks after news that U.S. consumer prices accelerated in May. Gasoline prices have hit a record high and the cost of food has soared, leading to the largest annual increase in about 40 years
2022-06-17 - The meeting will “discuss steps companies can take to increase refining capacity and output and reduce gas prices in the near-term,” an Energy Department spokesperson said.