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.
Eagle Resources Group LLC is offering for sale its oil and gas producing properties, leasehold, minerals and related assets located in Woods, Alfalfa and Grant counties, Oklahoma. The assets comprise a roughly 5,800 net-acre position 100% HBP with 53 horizontal PDP Mississippi Lime wells producing 3.2 MMcfe/d on a well established, low-decline of about 10% generating $6 million in next 12-month cash flow fully funding 45 highly economic development locations.
Eagle has retained PetroDivest Advisors as its exclusive adviser relating to the transaction.
Highlights:
- Operated Properties (1,750 Mcfe/d Net Production | 2,700 Net Acres)
- 13 low-decline horizontal PDP wells with next 12-month decline of 10% making $3.2 million next 12-month operating cash flow
- PDP PV-10: $12.5 million
- PDP Net Reserves: 8.4 Bcfe
- Average 72.4% Working Interest | 56.4% Net Revenue Interest
- Operated saltwater disposal system provides additional income stream and reduces overall LOE cost
- 13 low-decline horizontal PDP wells with next 12-month decline of 10% making $3.2 million next 12-month operating cash flow
- Nonoperated Properties (1,400 Mcfe/d Net Production | 3,100 Net Acres)
- 40 low-decline horizontal PDP wells with next 12-month decline of 13% making $2.7 million next 12-month operating cash flow
- PDP PV-10: $9.9 million
- PDP Net Reserves: 5.3 Bcfe
- Avg 18.0% Working Interest | 14.4% Net Revenue Interest
- Focused, well-capitalized nonop partners including SandRidge, Mach, Chaparral and others
- 40 low-decline horizontal PDP wells with next 12-month decline of 13% making $2.7 million next 12-month operating cash flow
- Undeveloped Inventory (45 Highly Economic Miss Lime PUDs)
- Leasehold 100% HBP
- Two operated and 43 nonoperated gross locations targeting the Mississippi Lime
- Undeveloped PV-10: $21.2 million
- Undeveloped Net Reserves: 12.4 Bcfe
- De-risked development locations primed for full unit drill out
- Robust economic returns with individual well payouts of about nine months
Process Summary:
- Evaluation materials are available via the Virtual Data Room on July 13
- Bids are due on Aug. 17
For information visit petrodivest.com or contact Jerry Edrington, director of PetroDivest, at jerry@petrodivest.com or 713-595-1017.
Recommended Reading
Wood Mackenzie Appoints Jason Liu as CEO
2024-05-07 - Liu replaces former CEO Mark Brinin, who is departing to pursue other opportunities, Wood Mackenzie said.
Utility, Clean Energy Company Allete to Go Private in $6.2B Deal
2024-05-06 - The Minnesota-based utility said on May 6 it agreed to be acquired by a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners.
Valaris’ 1Q Sets Positive Tone for Offshore
2024-05-06 - Coming out of first-quarter 2024, drilling contractor Valaris expects a sustained upcycle for the offshore drilling industry supported by demand growth, OPEC+ production cuts and supportive commodity prices.
U.S. Shale-catters to IPO Australian Shale Explorer on NYSE
2024-05-04 - Tamboran Resources Corp. is majority owned by Permian wildcatter Bryan Sheffield and chaired by Haynesville and Eagle Ford discovery co-leader Dick Stoneburner.
1Q24 Dividends Declared in the Week of April 29
2024-05-03 - With earnings season in full swing, upstream and midstream companies are declaring quarterly dividends. Here is a selection of dividends announced in the past week.