Millennial Energy Partners
The following information is provided by Detring Energy Advisors LLC. All inquiries on the following listings should be directed to Detring. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
The assets offer an attractive opportunity to acquire a concentrated position with exposure to multiple benches across the prolific Meramec and Woodford horizons. MEP has retained Detring Energy Advisors as its exclusive adviser relating to the transaction.
Asset Highlights
- About 4,400 Net Royalty Acres
- 100% minerals
- High royalty interest leases (about 24% average royalty interest)
- Concentrated, core minerals position with significant near-term growth
- Prolific stacked-pay in the core of the Meramec and Woodford high-yield wet gas and volatile oil windows
- Roughly 2.0-2.5 billion cubic feet equivalent per 1,000-ft EURs with 100%+ rate of returns driven by high-liquids content wet gas
- Exposure to premier operators with substantial development budgets: about 70% of net royalty acres (NRA) operated by Continental Resources Inc., Devon Energy Corp. and Cimarex Energy Co.
- Numerous high-density spacing tests across the position
- Two rigs currently on minerals and 17 rigs within five miles of MEP minerals
- 62 active horizontal producers, eight horizontal drilled but uncompleted wells (DUCs) and two horizontal permits on minerals with an average royalty interest of about 0.84% across all locations
- Current Net Production: about 1 million cubic feet equivalent per day
- Next 12-months Cash Flow: about $1.1 million (proved developed producing/DUC wells only)
- Attractive Meramec and Woodford thickness across MEP’s position in the western Stack provides proven, over-pressured, multi-bench inventory
- Operators currently testing Osage, Red Fork, Oswego, Atoka, Cleveland, Cottage Grove and Douglas horizontal potential across the position establishing tangible upside in the Anadarko Basin
Process Overview
- Evaluation materials available via the Virtual Data Room on Feb. 4
- Proposals due March 6
For information visit detring.com or contact Melinda Faust at mel@detring.com or 713-595-1004.