Panther Energy LLC

Transaction Type
Sellers
Marketers
Post Date
Close Date
Estimated Price
MM
Description

Panther Energy LLC and some of its partners have retained Evercore Partners to sell a large portfolio of producing properties in the Anadarko and Hardeman basins in Texas and Oklahoma.

The package includes 225,000 net acres producing more than 10,000 barrels of oil equivalent (BOE) per day with more than 1,100 potential drilling locations. About half of the production is oil and about 69% are liquids. Total proven reserves from the package is 43.664 million BOE worth a present value of $615.059 million when discounted at 10%.
The average operating cash flow is around $14 million per month.

Within the Anadarko Basin, the package includes 135,000 net acres producing 9,862 BOE per day and 730 potential drilling locations. The core Anadarko position has multiple stacked plays and significant drilling inventory.

The target reservoirs within the Anadarko include Cleveland, Cottage Grove, Marmaton, Tonkawa, Atoka, Morrow, St. Louis and others.

Within the Hardeman Basin, the package includes about 90,000 net acres producing 225 BOE per day and 400 potential drilling locations. The Hardeman Basin includes the emerging Atoka Wash play, which has good term remaining on the majority of the acreage, with the options to extend.

An online virtual data room is scheduled to be available by Feb. 19 and the physical data room will be open during March. The effective date for the transaction is April 1, 2013, and the bid due date is April 4. For additional information, contact Lance Dardis, managing director at Evercore Partners, at 713-427-5130 or lance.dardis@evercore.com.