Four Corners Petroleum LLC is offering about 20,500 net acres of conventional waterflood assets in Wyoming’s Powder River Basin, according to Detring Energy Advisors, which is handling the sale.

The assets are in Sheridan, Campbell, Crook and Weston counties, Wyo., in the northeastern part of the state and include average production of 640 barrels of oil equivalent per day (boe/d).

Highlights:

  • About 20,500 net acres;

    • 100% operated;
    • 99% average working interest;

  • $5 million operating cash flow (next twelve months PDP);

  • Proved PV-10 reserves of 12.8 million barrels and $91 million;

  • 33% PDP ($30 million PV-10);

  • Production averages about 640 boe/d;

    • 100% oil;
    • 7% decline;

  • 76 active producers wells;

  • 56 active waterflood injector wells;

  • Assets include five operated waterfloods throughout the Powder River;

    • Majority of production, cash flow and reserves generated by Fiddler Creek Field in Weston;

  • Average royalty burden of 17%;

  • Large inventory of low-risk upside opportunities, according to Detring;

  • Infill drilling with vertical and horizontal opportunities;

  • Seismically defined drilling prospects;

  • Waterflood optimization, expansion and reactivation; and

  • Chemical EOR and CO2 opportunities.

A virtual data room is open and presentations are available upon request.

Proposals are due by Oct. 18. Four Corners will give preference to bids for the full asset package.

For information contact Melinda Faust, director at Detring at 713-907-2003.