EnCap Investments LP
The following information is provided by Detring Energy Advisors LLC. 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.
The assets offer an attractive opportunity to acquire a concentrated, core position underneath premier Utica-focused operators generating world-class well results and superior economics, according to Detring.
Asset Highlights:
- About 6,325 Net Royalty Acres (at 1/8) | 93% HBP
- Overriding Royalty Interests (ORRI) located throughout the core of the prolific Utica Shale play
- Substantial OGIP across contiguous acreage position and under top operators including Ascent, Gulfport, Hess and XTO
- Significant near-term development potential with about 3,340 net royalty acres (more than 50%) contained within existing horizontal drilling units
- ORRI retained for any leases re-leased within 12 months of expiration
- About $6 million Cash Flow (last 12 months) | About 8 million cubic feet equivalent per day Net Production
- About 150 producing wells with average of about 0.7% Royalty Interest
- Strong on-lease activity averaging more than five wells completed per month (last 12 months), with three rigs currently running and 31 wells in-progress on-lease
- Gross production and revenue of more than 1.5 billion cubic feet per day (Bcf/d) and about $1.5 billion per year, respectively
- Prolific Well Results in Core Utica Dry Gas Window
- EnCap’s position is bracketed by superb well results averaging about 2.4 Bcf per thousand lateral feet (EUR) from the Utica/Point Pleasant Shale
Process Overview:
- Evaluation materials available via the virtual data room on Oct. 15
- Data room presentations available on request
- Proposals due on Nov. 14
For information visit detring.com or contact Melinda Faust at mel@detring.com or 713-595-1004.