Marketed: Canadian Firm’s US Subsidiary With North Dakota Waterflood Assets

Transaction Type
Sellers
Marketers
Basin
Williston Basin
Announce Date
Post Date
Close Date
Estimated Price
MM
Description

The following information is provided by Energy Advisors Group Inc. (EAG), formerly PLS Divestment Services. All inquiries on the following listings should be directed to EAG. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.

Energy Advisors Group Inc. (EAG) is marketing a company’s North Dakota assets as part of a larger corporate reorganization. The seller needs to realize a price of four years full cash flow for the properties and must sell the Canadian subsidiary that owns the U.S. operating company and assets. The company can not close an asset sale because of the cross border tax ramifications.

North Dakota Waterfloods

  • 82-Active Wells. (Five-Units)  Four-PUDS.  Three-Probable Locations. 7,900 Acres.
  • Bottineau and Renville Counties, N.D.
  • Immediate Infill and Development Drilling;
  • Waterflood Production Optimization
  • Bluell and Sherwood Development
  • 3-D Proprietary Seismic Coverage
  • Pool Delineation Opportunities
  • About 97.5% Operated Working Interest and about 74.5% Net Revenue Interest
  • Gross Production (June 2019): 376 barrels per day of Oil;  (28 Degree API Crude)
  • Long Life Conventional Oil Production
  • Shallow Decline w/ 4% Oil Cut Last 3-Yrs
  • Operating Costs Average about $155,000 per Month
  • Latest Net Cash Flow: $220,809 per Month
  • Seller Asking Four Years Cash Flow
  • Water Disposal; Saltwater Disposal; and Other Infrastructure In Place

Click here to view the online data room or visit energyadvisors.com to view our other 40-plus assignments.

For more information, contact Steve Henrich, director with EAG, at shenrich@energyadvisors.com or 403-294-1906.

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