The following information is provided by Eagle River Holdings LLC. All inquiries on the following listings should be directed to Eagle River Holdings. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Eagle River Holdings LLC has been exclusively retained by Finley Resources for the divestiture of operated and non-operated working interest assets and associated development rights located in the SCOOP, Merge, STACK and additional regions of the Anadarko Basin in Oklahoma.
The divestiture includes 130 wells (Operated and Non-operated) plus ~11,200 net and ~215,00 gross acres across all asset regions.
This is a negotiated sale. Bids will be considered on any portion of the assets.
Significant near-term drilling activity:
- ~2,418 MBOE net Reserves under active development (DUC / drilling / permitting);
- ~450 net BOEPD production (March 2018);
- Three rigs currently drilling on acreage, 10 DUCs and three additional wells awaiting spud and 19 pooling orders;
- Receive an average of 3 to 5 new drill AFEs per month providing sustainable growth opportunity ;
- Legacy leasehold position aggregated in core regions of the Basin with significant recent development activity;
- Diversified acreage position;
- ~11,310 net and ~215,041 gross acres across all asset regions;
- Acreage position throughout all core regions of the SCOOP/STACK with bids considered on any portion of assets;
- Asset regions include: SCOOP, Norman Prospect, Merge, STACK and Ardmore; and
- Stacked pay formation targets throughout leasehold yields improved, industry-leading economic returns.
Engineered reserves with upside:
- ~845 MBOE net PDP Reserves (132 wells) including 8 completed wells to sales in March and April 2018;
- ~1,573 MBOE net DUC / PUD Reserves based on existing drilling proposals, permits and pooling orders (44 wells);
- Over ~115 MMBOE upside PUD Reserves representative of additional drilling locations (2,435 wells); and
- Unquantified upside associated with horizontal development in the Sycamore, Hunton and Oswego Formations.
Development Potential in Multiple Formations:
- Best in class Basin operators include: Continental Resources, EOG Resources, Cimarex, Chaparral, Camino, Newfield Exploration, Marathon Oil Company and others;
- Operators show improved technology, well performance, efficiencies in LOE / F&D costs with development funding; and
- Future development efficiencies and technology to be realized through infill, multi-well pad and de-risked development.
Process and timeline:
- VDR opened March 12, 2018
- Bids due April 12, 2018
- Negotiated Sales Process
For more information contact Brian Green at Eagle River Holdings LLC, or call (720) 630-8232.