The following information is provided by Continental Energy Advisors LLC. All inquiries on the following listings should be directed to Continental Energy Advisors. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Nichols Brothers Inc. (NBI) retained Continental Energy Advisors for the sale of operated assets in New Mexico, Oklahoma and Texas as part of a Chapter 11 bankruptcy filed by NBI and certain of its affiliates.
The offer, which includes assets in the Permian Basin, comprises PDP with tremendous redevelopment upside, along with reserve potential in other formations, according to Continental Energy Advisors.
- About 14,700 barrels of oil and 13.6 million cubic feet (MMcf) of gas per moth of current production
- Roughly 38,000 Gross Acres
- 96% - 100% operated
- 65% - 87% Net Revenue Interest
- Tremendous Redevelopment Upside in New Mexico San Andres, also Oklahoma Bartlesville and Prue Sands
- About 22,700 barrels of oil and 39 MMcf of gas per month of historic production level across all plays
- Fallen to roughly 14,700 barrels of oil and 13.6 MMcf of gas per month current production across all plays
- Simple maintenance fixes and workovers could restore production to previous levels
- Full infrastructure and pipelines
- Horizontal drilling and gas injection potential in some fields for higher recoveries
- Wolfcamp, Bone Springs, Morrow and Queen potential in New Mexico Permian Basin acreage
- Wilcox, Oswego, Red Fork and other potential in some Oklahoma acreage
- Recently completed capital projects add substantial cash flow
The deadline to designate stalking horse bidder is March 28. Deadline for competing bids is noon CST April 12. The auction/sale hearing will be held on April 24.
2022-05-16 - Grey Rock will contribute oil and gas assets in the Permian Basin, Bakken, Eagle Ford Shale, D-J Basin and Haynesville Shale plays to form Granite Ridge Resources.
2022-05-18 - Things have changed for the upstream sector and the first quarter proves it, according to energy analyst Subash Chandra, who shared several of his takeaways at Hart Energy’s DUG Permian Basin and Eagle Ford conference and exhibition on May 16.
2022-05-19 - The $7 billion “merger of equals transaction” of Centennial Resource Developement and Colgate Energy will create the largest pure-play E&P company in the Delaware Basin of the Permian.
2022-05-19 - The flight of capital from the E&P space is among the limiting factors keeping the U.S. from responding to the growing global demand for crude and natural gas, VTX Energy CEO Gene Shepherd told DUG Permian and Eagle Ford attendees.
2022-04-22 - The decision by Lyondell Basell comes after two failed attempts to sell the Houston plant and the closing of five U.S. oil refineries in the last two years.