Marketed: Point Energy Partners Operating Ward County 24-Well Package

Transaction Type
Marketers
Basin
Permian
Post Date
Close Date
Estimated Price
MM
Description

The following information is provided by EnergyNet. All inquiries on the following listings should be directed to EnergyNet. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.

Point Energy Partners Operating LLC retained EnergyNet for the sale of an overriding royalty interest in a 24-well package plus seven DUCs located in Ward County, Texas. The Lot# 103955 package includes the 24 active wells with current net production of 1.1 MMboe/d (81% liquids) across the Wolfcamp and Bone Spring formations of the Permian Basin.

Opportunity highlights:

  • 24 active wells producing from five stacked unconventional reservoirs across the Wolfcamp and Bone Spring formations
    • 1.1 Mboed current net production, 81% liquids
    • All completed 2020 and later with decades of production remaining
  • 7 DUCs scheduled for completion and TIL in first half (1H) of 2023
    • 12,400 ft. average lateral length
    • 4,000+ lbs/ft. high-intensity completion design has demonstrated production outperformance compared to offset wells
  • Average RI: 9.5%
  • NTM cash flow $25.3MM supported by meaningful existing production base
  • Favorable RI attributes
    • PEP retains average WI of 99% among the wells and full economic alignment with RI
    • Experienced Delaware pure-play operator with a track record of strong operational performance and currently running a two-rig program
    • Newly installed state-of-the-art production facilities reduce carbon footprint and maximize profitability with minimal downtime
    • Advantageous long-term marketing arrangements for stable margins and cash flow.

Bids are due at 4:00 p.m. CDT on Feb. 9. Bids are due at 4:00 p.m. CDT on Feb. 8. For complete due diligence information, please visit energynet.com or email Zachary Muroff, managing director, at Zachary.Muroff@energynet.com or Reilly Bilton, director of engineering at EnergyNet Indigo, at Reilly.Bilton@energynet.com.