The following information is provided by Houlihan Lokey Capital Inc. All inquiries on the following listings should be directed to Houlihan Lokey. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
New Emerald Energy LLC is offering for sale oil-weighted properties with substantial inventory located in the Bakken play of North Dakota. The company retained Houlihan Lokey Capital Inc. as its exclusive financial adviser to assist with the transaction.
- Large acreage position with a deep proved undeveloped (PUD) inventory and stable proved developed producing (PDP) base
- About 81,500 net acres, mostly HBP with significant running room
- Average drilling and spacing unit (DSU) working interest of 77% / 64% net revenue interest
- Individual wells achieve an internal rate of return in excess of 50%
- PUD Type curve IP of 802 barrels of oil equivalent per day (boe/d)
- 67% initial decline
- About 924,000 boe EUR
- Predictable PDP base decline of 17%
- Asset currently operated by Petro-Hunt Dakota LLC
- Operations will be conveyed to buyer
- Extensive gathering, processing and other infrastructure in place
- More than 50 existing wells in Dakota Midstream dedicated area
- Ability to ramp up current production without capacity constraints
- Significant PV-10 value with valuable upside potential
- Current production of about 2,500 boe/d net from about 109 gross / 84 net PDPs
- 578 identified future drilling locations based on 10,000-ft laterals and six-well per DSU spacing
- Opportunity to introduce latest generation drilling and completion technology
- Net production projected to peak at about 22,000 boe/d by 2026
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