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.
CL Energy, managed by investment firm Crestline Investors Inc., has retained Houlihan Lokey Capital Inc. as its exclusive financial adviser to assist with this transaction.
- Attractive Nonoperated Position
- Current net production rate as of July 2018: 1,723 boe/d (343 bbl/d of oil, 5.176 MMcf/d of gas, 518 bbl/d of NGL)
- About 260 net acres in D-J Basin with 137 existing horizontal wells
- 130 producing with an average Working Interest of 18.9%
- Seven non-producing with an average Working Interest of 43.3%
- Under premier operators including PDC Energy Inc., Encana Corp., Extraction Oil & Gas Inc.
- Incremental upside via documented history of authority for expenditure (AFE) assignments
- Predictable Production with Infill Upside
- Individual wells achieve greater than 60% internal rate of returns
- Net proved reserves of about 6.4 million boe; PV-10 value of about $62.3 million
- 60 gross proved undeveloped (PUD) locations