Titan Energy LLC

Transaction Type
Sellers
Marketers
Basin
Marble Falls, Mississippi Lime, Utica Shale & Other
Post Date
Close Date
Room Opening Date
Estimated Price
MM
Description

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.

Titan Energy LLC retained Detring Energy Advisors to sell its producing properties, gathering systems and leasehold across four distinct packages, including the Marble Falls play of North Texas, Mississippi Lime play of northern Oklahoma, Utica Shale play of eastern Ohio, and Indiana. Each package offers an attractive opportunity to acquire low-decline, cash flow positive assets with demonstrated proved producing reserves and operational upside.

Asset Highlights:

  • Substantial Production & Cash Flow
    • More than $20 million net operating cash flow (next 12 months PDP)
    • About 30 MMcfe/d net production (70% gas)
    • About 100 Bcfe net reserves (PDP)
    • About $80 million PDP PV-10 value
    • About 240 wells (93% operated; average 92% WI)
  • About 130,000 Net Acres
    • About 100% HBP
    • Substantial operated, HBP footprint offers long-term optionality on natural gas pricing (acreage about 2/3 developed)
    • Immediate development opportunities include behind-pipe and recompletion candidates
  • Large Recompletion Inventory and Owned Infrastructure Assets
    • Meaningful recompletion potential in the Marble Falls
      • Simpson 1 (second-quarter 2018) IP’d at ~1,000 boe/d with payout in three days
      • More than 100 additional candidates identified by Titan
    • Mississippi Lime assets include 45 miles of saltwater disposal poly pipeline and four active saltwater disposal wells
    • Gas processing facility included in Indiana package

Process Overview:

  • Evaluation materials available via the Virtual Data Room on Sept. 4
  • Proposals due Sept. 28
    • Titan will accept bids for each of the four individual sub-packages
  • Closing anticipated in mid-December

Contact Melinda Faust, director for Detring, at mel@detring.com to request a confidentiality agreement or to learn more about this opportunity.