Marketed: Jetta Operating Core Louisiana Terryville Opportunity

Transaction Type
Sellers
Marketers
Basin
Gulf Coast Basin; Bossier/Cotten Valley
Field
Terryville Field
Announce Date
Post Date
Close Date
Estimated Price
MM
Description

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.

Jetta Operating Co. Inc. retained PetroDivest Advisors for the sale of oil and gas leasehold and mineral assets located in Lincoln Parish, La.

The package offers an attractive opportunity to acquire nonoperated interests in a roughly 4,500 gross acre area within the core of the prolific Terryville Field, according to PetroDivest, which  Jetta as its exclusive adviser related to the transaction.

Highlights:

  • Liquids-Rich Proved Developed Producing (PDP) Base Near Premium Gulf-Coast Markets
    • Stable production base yielding significant cash flow
      • About 1.4 million cubic feet equivalent per day (MMcfe/d) of net production (62% gas)
      • About $1.7 million next 12 months PDP cash flow
      • About $7.1 million PDP PV-10%
    • Highly delineated position with 123 producing wells primarily in the Bossier / Lower Cotton Valley
      • 57 horizontal producers
      • 66 vertical producers
    • High realized price given proximity to Henry Hub
    • High margin production with more than $3 per thousand cubic foot equivalent realized net back in 2018
  • Stacked-Pay Resource with Four Lower Cotton Valley  Benches
    • Summary of interests:
      • About 136 Net Mineral Acres leasehold (average Net Revenue Interest of about 85%)
      • About 11 Net Mineral Acres unleased minerals
      • About 89 Net Royalty Acres at 12.5% royalty
    • Position entirely operated by Range Resources
    • Single-well Rate Of Returns are competitive with core Marcellus Shale
    • Average EUR more than 1.6 billion cubic foot equivalent per 1,000-ft with average IP-30 over 3 MMcfe/d per 1,000-ft

Process Overview:

  • Evaluation materials available via the Virtual Data Room on April 23
  • Contact Ken Reed for a confidentiality agreement at 713-595-1016 or ken@petrodivest.com
  • Proposals due  May 23
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