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

Stroud Exploration Co. LLC and Castell Oil Co. LLC have retained PetroDivest Advisors to sell Powder River Basin assets in Campbell and Johnson counties, Wyo.

Stroud Exploration Powder River Basin Asset Map (Source: PetroDivest Advisors)

The offer includes about 6,200 net acres ahead of the trend, primed for development and operations using the latest drilling and completion techniques.

Asset Highlights:

  • Acreage located throughout the core of the EOG’s Powder River Basin “Core Area” with no near-term acreage expirations
    • 31% HBP and 55% primary term through 2027
    • Sufficient and contiguous acreage concentration to permit operatorship
  • More than 30 barrels per day of oil net production yielding about $50,000 per month cash flow
  • Acreage contains operated units, on-lease permitting and substantial offset drilling activity
    • Premier area operators including EOG, Devon, Ballard and Anschutz
    • 120 active drilling permits on acreage filed by EOG in 2018 (predominantly two-mile laterals, up to 24 wells/unit)
  • Multiple conventional reservoirs and two source rock intervals
    • Parkman, Sussex, Turner, Niobrara, and Mowry formations all successfully exploited horizontally by offset operators
  • The Parkman Sand is the primary target with numerous successful tests offsetting the acreage
    • Contiguous siliciclastic reservoir
    • On-trend with recent Parkman wells with more than 1 million barrels of oil equivalent EURs
    • High oil percentage target yielding superior economics

Bids are due Dec. 5. For information visit petrodivest.com or contact Ken Reed, director of PetroDivest, at ken@petrodivest.com or 713-595-1016.

Onshore