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

EnCore Permian Holdings LP has added ~800 Net Royalty Acres (Normalized to 1/8 Royalty) to their core minerals position in the Midland Basin.

  • The evaluation period has been extended, bids are now due on Wednesday, March 21st.

Asset Highlights:

  • ~5,395 Net Royalty Acres (Normalized to 1/8 Royalty)
    • 93% minerals
    • ~$5.2MM cash flow (next 12 months) from existing producers and DUCs
    • ~310 Boed net production
  • On-Lease Horizontal Activity Set to Almost Double Near-Term Well Count
    • 69 current hz producers
    • 29 hz DUCs and 29 hz permits from top-tier operators (avg. ~0.8% RI)
    • Parsley: Running 2 rigs on Reagan Co. minerals proximal to world-class Wolfcamp C results (0.7% RI)
    • XTO: Three-mile lateral recently spud, several more permitted in Midland Co. (1.1% RI)
    • Surge/Blue Whale: Running 1 rig and actively permitting Howard/Borden acreage (1.3% RI)
  • Operators Targeting up to 5 Prolific Benches Throughout the Wolfcamp & Spraberry Horizons
    • >150 hz rigs currently running in the basin as superior economics continue to attract capital in the current pricing environment
    • EUR’s and ROR’s reliability exceed 1 MMBoe and 100%, respectively, as operators continue to optimize drilling & completion techniques and expand stacked-pay targets

Process Overview:

  • Proposals due on Wednesday, March 21st
  • EnCore will consider bids for sub-portions of the package

Please contact Melinda Faust at mel@detring.com or 713-595-1004 to request VDR access, schedule a presentation, or learn more about this opportunity.