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.
Riverside Energy retained EnergyNet Indigo for the sale of a 4,411 well package comprising overriding royalty interest (ORRI) in certain natural gas properties in Michigan’s Antrim Shale through a sealed-bid offering closing April 22.
The ORRI assets are located in Michigan’s Alcona, Alpena, Antrim, Charlevoix, Crawford, Kalkaska, Manistee, Montmorency, Oscoda and Otsego counties.
Highlights:
- Offering 5% ORRI on Riverside's Interests in 4,411 Operated Wells
- Unique Opportunity to Acquire Mature and Predictable Low Decline ORRI Assets Within the Antrim Shale Formation
- Attractive Diverse Position Across 10 Michigan Counties
- Long Life Low Risk Reserves - Average 2%-4% Terminal Decline
- Six-Month Average Gas Sales: 93,280 Mcf/d
- Six-Month Average Net Income: $224,411/Month
- Next 12-Month Cash Flow (Net) on ORRI: $3.2 million
- Strong Operations with Riverside Energy Following Previous Operator Chevron
- Production from Antrim Shale w/ Further Production Enhancement Potential
- PDP PV 4: $49.5 million
- PDP PV 5: $43.4 million
- PDP PV 8: $31.2 million
Bids are due by 4 p.m. CDT April 22. For complete due diligence information visit indigo.energynet.com or email Heidi Epstein, manager of business development, at Heidi.Epstein@energynet.com, or Denna Arias, vice president of corporate development, at Denna.Arias@energynet.com.
Recommended Reading
CERAWeek: Energy Secretary Defends LNG Pause Amid Industry Outcry
2024-03-18 - U.S. Energy Secretary Jennifer Granholm said she expects the review of LNG exports to be in the “rearview mirror” by next year.
EQT’s Toby Rice: US NatGas is a Global ‘Decarbonizing Force’
2024-03-21 - The shale revolution has unlocked an amazing resource but it is far from reaching full potential as a lot more opportunities exist, EQT Corp. President and CEO Toby Rice said in a plenary session during CERAWeek by S&P Global.
Exclusive: The Politics, Realities and Benefits of Natural Gas
2024-04-19 - Replacing just 5% of coal-fired power plants with U.S. LNG — even at average methane and greenhouse-gas emissions intensity — could reduce energy sector emissions by 30% globally, says Chris Treanor, PAGE Coalition executive director.
Exclusive: ‘Reality Has Hit,’ NatGas Not Just a Bridge Fuel, Landrieu Says
2024-04-11 - The Biden administration's LNG pause is "disappointing" and natural gas is a "solution to energy woes," co-chairs for Natural Allies for a Clean Energy Future Senator Mary Landrieu and Congressman Kendrick Meek told Hart Energy's Jordan Blum at CERAWeek by S&P Global.
National Petroleum Council: A Realistic Path to Scaling US Hydrogen
2024-05-15 - A report by the National Petroleum Council, the culmination of about 18 months of work, offered 23 recommendations to help the hydrogen industry grow through 2050.