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.
Titan Energy LLC retained PetroDivest Advisors to market for sale its producing properties, gathering systems and leasehold in the Mississippi Lime play of Alfalfa, Garfield and Grant counties, Okla.
The offer includes a fully HBP asset with steady production and stable cash flow. The largely contiguous nature of the position, with significant infrastructure included, allows for efficient operations and further development of the field within cash flow, according to PetroDivest.
Highlights:
- About $5 million Operating Cash Flow (1) Next 12 Months Proved Developed Producing (PDP)
- Stable base of low-decline production provides for operational field improvements and development within cash flow
- Steady cash flow driven by largely contiguous, operated properties allowing for efficient operations
- About 9 million cubic feet equivalent per day of Net Production (Roughly 97% Operated)
- About 61% gas (liquids-rich)
- Roughly 15% next 12-month decline
- 65 active wells (77% operated)
- Average 82% Working Interest (20% Royalty)
- About 26 billion cubic feet equivalent Net PDP Reserves
- Roughly eight years Reserves-to-Production Ratio (PDP)
- 23,479 Net Acres about 100% HBP
- Substantial operated, HBP footprint offers long-term optionality on natural gas pricing
- Infrastructure in-place with 45 miles of saltwater disposal poly pipeline
- Includes four active saltwater disposal wells
Process Overview:
- Evaluation materials available via the Virtual Data Room on March 27
- Proposals due April 24
For information visit petrodivest.com or contact Ken Reed, director of PetroDivest, at ken@petrodivest.com or 713-595-1016.
Recommended Reading
US Expected to Supply 30% of LNG Demand by 2030
2024-02-23 - Shell expects the U.S. to meet around 30% of total global LNG demand by 2030, although reliance on four key basins could create midstream constraints, the energy giant revealed in its “Shell LNG Outlook 2024.”
Silver Linings in Biden’s LNG Policy
2024-03-12 - In the near term, the pause on new non-FTA approvals could lift some pressure of an already strained supply chain, lower both equipment and labor expenses and ease some cost inflation.
ARC Resources Adds Ex-Chevron Gas Chief to Board, Tallies Divestments
2024-02-11 - Montney Shale producer ARC Resources aims to sign up to 25% of its 1.38 Bcf/d of gas output to long-term LNG contracts for higher-priced sales overseas.
FERC Approves Extension of Tellurian LNG Project
2024-02-19 - Completion deadline of Tellurian’s Driftwood project was moved to 2029 and phase 1 could come online in 2027.
Tinker Associates CEO on Why US Won’t Lead on Oil, Gas
2024-02-13 - The U.S. will not lead crude oil and natural gas production as the shale curve flattens, Tinker Energy Associates CEO Scott Tinker told Hart Energy on the sidelines of NAPE in Houston.