The following information is provided by Oil & Gas Asset Clearinghouse LLC. All inquiries on the following listings should be directed to Clearinghouse. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Impetro Resources LLC retained Oil & Gas Asset Clearinghouse LLC for the sale of an operated working interest package in Colorado's Washington, Morgan, Elbert and Logan counties. The offering includes interest in 83 wells plus leasehold acreage in the Denver-Julesburg Basin. Impetro is a subsidiary of Lilis Energy Inc., according to a filing with U.S. Securities and Exchange Commission.
- Operated working interest in 73 producing wells, seven injection wells and three shut-in wells
- 98.6% working interest / 80.9% net revenue interest
- 11,491 gross (11,330 net) acres
- Currently operated by Impetro, operator willing to contract operate the field upon divestiture
- 294 gross (236 net) barrel per day average oil production
- Flat decline profile due to water drive reservoir
- $152,000 per month average net cash flow (excluding worker expense)
- $11 million proved developed producing PV-10 value
Bids are due April 16. An electronic data room is available.
Commenting on the current state of the oil market, Jason Downie, founding partner of Tailwater Capital, says he expects to see “some of the most compelling buying opportunities” in many years.
The appointment of David Anders as CFO rounds out the C-suite at Edgewater with the addition of “considerable M&A and capital markets experience in the midstream space,” CEO Stephen Smith says.
Offshore operations in the Gulf of Mexico will thrive with improving economics, while in the shale fields ... not so much; a new generation of leaders takes over following the retirement of a slew of industry icons, and just in time to tackle investor pressure on ESG issues, continuing consolidation and the pursuit of capital; and then there's the 2020 U.S. presidential election, in which the subject of energy is likely to play a prominent role.