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

Legacy Reserves LP retained TenOaks Energy Advisors and Barclays in connection with the potential sale of a portfolio of overriding royalty interests (ORRI) located in the Permian Basin.

Highlights:

  • ORRI portfolio (90% HBP) spanning active development areas of the Delaware and Midland Basins
    • Delaware Basin: ~2,200 NRA
    • Midland Basin: ~2,800 NRA
  • Material existing cash flow provides immediate yield
    • ~$14 million of NTM cash flow (96% PDP and DUCs)
  • Track record of continued growth across the position with decades of future development inventory targeting proven benches
    • ~150 spuds across the position over the last two years
    • Near-term DUCs and Permits and >1,500 quantified remaining locations
  • Controlled by high-quality, well-capitalized Permian operators who are rapidly developing their positions
    • Top operators include Double Eagle / Pioneer, Devon, and Diamondback
    • All Legacy operators running a combined ~100 rigs in the Delaware/Midland
TenOaks Energy Advisors Marketed Map - Legacy Resources Permian Basin ORRI Portfolio
4) Map depicts Legacy DSUs within map zoom / Package includes small Central Basin Platform/Shelf royalty properties not shown.

Bids are due May 13. The potential transactions is expected to have an effective date of April 1.

A virtual data room is available. For information visit tenoaksenergyadvisors.com or contact Trey Bonvino at TenOaks Energy Advisors at 213-420-2331 or Trey.Bonvino@tenoaksadvisors.com.

Onshore