The following information is provided by Detring Energy Advisors. All inquiries on the following listings should be directed to Detring. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
U.S. Energy Development Corp. (USEDC) is offering for sale its core Delaware Basin leasehold and related assets located in Lea and Eddy counties, N.M.
The asset offers an attractive opportunity to acquire roughly 1,950 net acres (100% HBP) throughout active horizontal development, according to Detring Energy Advisors, which USEDC retained as its exclusive adviser relating to the transaction.
- 1,946 Net Acres
- 100% HBP
- 23% Op / 77% NonOp
- 51% Lea County / 49% Eddy County
- 220 Boed Net Production
- $1.8 MM operating cash flow (PDP next 12 months)
- $5 MM+ PDP PV-10 value
- 57 Producing Wells
- 5 operated (53% average WI) / 52 nonop (10% average WI)
- 40 horizontal / 17 vertical
- Participating in 9 horizontal wells operated by Devon (6), Oxy (2), and Matador (1)
- ~$2.9 MM net D&C
- ~6% average WI
- Properties Located in the Most Active Basin in the U.S.
- >80 horizontal rigs running in the northern, New Mexico portion of the basin
- Three proven benches across the 2nd Bone Spring, 3rd Bone Spring and Wolfcamp XY with IP-30’s over 2,000 boe/d
- USEDC’s assets include ~700 net acres in Oxy’s “Greater Sand Dunes” prospect area with substantial future development potential
- Evaluation materials available via the Virtual Data Room on Mond., April 23
- Data room presentations available upon request
- Proposals due Wed., May 23
The offer comprises roughly 22,000 net leasehold acres in the Ranger Prospect in Lea County, N.M., and operations in horizontal San Andres wells.
Elevation Resources LLC is selling Permian Basin assets in two separate, sealed-bid offerings handled by Oil & Gas Asset Clearinghouse LLC.
Lonestar will add 32 gross (20 net) horizontal Eagle Ford drilling locations with the acquisition. At year-end 2014, Lonestar held interests in 143 engineered Eagle Ford drilling locations.