The following information is provided by Meagher Energy Advisors. All inquiries on the following listings should be directed to Meagher. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
OOGC America LLC, a wholly owned subsidiary of CNOOC Ltd., retained Meagher Energy Advisors to sell Denver-Julesburg (D-J) Basin core nonoperated working interests in Colorado and Wyoming.
Highlights:
- Core D-J Basin Wells with Exponential Growth and Increasing Cash Flow
- Interests in 173 wells with nine recently completed horizontals in Weld County
- Additional 12 wells waiting on completion or currently being drilled
- 62 well proposals received and queued for drilling
- About 1,600 additional drilling locations in Weld, Arapahoe, Adams and Laramie Counties
- $383,000/month average 2017 cash flow before investment
- $619,000 July forecasted cash flow with new wells online
- 323 Net bbl/d of Oil, 728 Net Mcf/d and 96 Net bbl/d of NGL
- Operators include Noble, PDC, Verdad and Bonanza Creek
- Tier 1 Acreage Focused in Low GOR Areas with Expanding Rig Counts
- 7,557 net acres in Weld County, 99% HBP
- 739 net acres in Laramie County, 20% HBP, with majority expiring in 2020 or 2021
- 84% average NRI with 4,621 net acres privately held, 2,910 state, and 27 net federal acres in Weld County
- 116 net acres in Adams and Arapahoe Counties
- Greater than 6,000 net acres undeveloped
- Hundreds of permits waiting on approval in spacing units encompassing OOGC acreage
- Basin extents continuing to expand as operators continue to drill and permit wells to the North and to the East
- Rural footprint mitigates potential setback issues
- 2018 operator budgets increased from 2017
- Additional Acreage Position in Goshen County
- 1,976 net acres in Goshen County and four nonoperated wells
Bids are due Aug. 9. The sale is expected to close Oct. 5 with an effective date of July 1.
For information visit meagheradvisors.com or contact Chris McCarthy, executive vice president for Meagher, at cmccarthy@meagheradvisors.com or 303-721-6354 ext. 224.
Recommended Reading
SilverBow Rejects Kimmeridge’s Latest Offer, ‘Sets the Record Straight’
2024-03-28 - In a letter to SilverBow shareholders, the E&P said Kimmeridge’s offer “substantially undervalues SilverBow” and that Kimmeridge’s own South Texas gas asset values are “overstated.”
SM Energy Declares Quarterly Cash Dividend
2024-03-26 - SM Energy’s dividend will be paid out on May 3 to stockholders on record as of April 19.
Matador Stock Offering to Pay for New Permian A&D—Analyst
2024-03-26 - Matador Resources is offering more than 5 million shares of stock for proceeds of $347 million to pay for newly disclosed transactions in Texas and New Mexico.
Par Pacific Asset-based Revolving Credit Bumped Up by 55%
2024-03-25 - The amendment increases Par Pacific Holdings’ existing asset-based revolving credit facility to $1.4 billion from $900 million.
California Resources Corp. Nominates Christian Kendall to Board of Directors
2024-03-21 - California Resources Corp. has nominated Christian Kendall, former president and CEO of Denbury, to serve on its board.