Earthstone Energy Corp. (NYSE: ESTE) has certain Bakken/Three Forks shale assets for sale, according to TenOaks Energy Advisors LLC, which is handling the sale.
The offer comprises a nonoperated position covering roughly 37,100 gross (1,300 net) unit acres in McKenzie and Dunn counties, N.D.
Highlights:
- 37,120 gross (1,323 net) unit acres;
- 100% HBP with high lease net revenue interests, according to TenOaks;
- 28 drilling spacing units operated by six Bakken operators;
- 2017 average net production of 762 barrels of oil equivalent per day (five-month average ending May);
- $4.5 million forward 12-months proved developed producing cash flow;
- Self-funded development program, TenOaks said;
- 18 drilled but uncompleted and 14 permitted wells;
- Operators include Statoil ASA (NYSE: STO), ConocoPhillips Co. (NYSE: COP), Whiting Petroleum Corp. (NYSE: WLL), XTO Energy Inc., Marathon Oil Corp. (NYSE: MRO) and Continental Resources Inc. (NYSE: CLR);
- Operators running 16 rigs in McKenzie and Dunn, the firm said; and
- 219 quantified upside locations (53 Bakken and 166 Three Forks) based on proven well spacing, TenOaks said.
Offers are due by noon on Oct. 31. For information visit tenoaksadvisors.com or contact TenOaks’ Jason B. Webb at 214-420-2322.
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