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

CL Energy Rockies LLC is offering for sale liquids-weighted properties with substantial inventory located in the Denver-Julesburg (D-J) Basin.

CL Energy Rockies D-J Position Map (Source: Houlihan Lokey Capital Inc.)

CL Energy, managed by investment firm Crestline Investors Inc., has retained Houlihan Lokey Capital Inc. as its exclusive financial adviser to assist with this transaction.

Highlights:

  • Attractive Nonoperated Position
    • Current net production rate as of July 2018: 1,723 boe/d (343 bbl/d of oil, 5.176 MMcf/d of gas, 518 bbl/d of NGL)
    • About 260 net acres in D-J Basin with 137 existing horizontal wells
  • 130 producing with an average Working Interest of 18.9%
  • Seven non-producing with an average Working Interest of 43.3%
    • Under premier operators including PDC Energy Inc., Encana Corp., Extraction Oil & Gas Inc.
    • Incremental upside via documented history of authority for expenditure (AFE) assignments
  • Predictable Production with Infill Upside
    • Individual wells achieve greater than 60% internal rate of returns
    • Net proved reserves of about 6.4 million boe; PV-10 value of about $62.3 million
    • 60 gross proved undeveloped (PUD) locations

Bids are due Nov. 16. For information visit hl.com or contact Kirk Tholen, managing director and head of E&P A&D for Houlihan Lokey, at KTholen@HL.com or 832-319-5110.

Onshore