PGP Holdings 1 LLC

Transaction Type
Sellers
Marketers
Basin
Midcontinent, Anadarko Basin, Arkoma Basin, Texas Panhandle & Hardeman Basin
Field
Scoop/Stack
Post Date
Close Date
Estimated Price
MM
Description

PGP Holdings 1 LLC retained Meagher Energy Advisors to sell Midcontinent Basin and Texas Panhandle nonoperated production and leasehold.

The assets are located in Beaver, Beckham, Blaine, Caddo, Canadian, Carter, Coal, Custer, Dewey, Ellis, Garfield, Garvin, Harper, Haskell, Hughes, Kiowa, Latimer, LeFlore, Major, McIntosh, Muskogee, Pittsburg, Roger Mills, Stephens, Texas, Washita, Woods and Woodward counties, Okla., and Hardeman, Hemphill and Lipscomb counties, Texas.

Asset Highlights:

  • Opportunity to acquire assets in highly coveted areas
  • Attractive target for unconventional oil and gas development
  • Steady production and cash flow
  • 525 active nonoperated wells (101 horizontals)
  • $214,300 net cash flow forecasted for July 2018
  • Forecasted production in July 2018
  • Gross: 1,515 bbl/d of oil and 51,170 MMcf/d, 10,043 boe/d (85% gas)
  • Net: 66.5 bbl/d of oil, 1,984 Mcf/d, 397 boe/d (83% Gas)
  • Average interest: 11.7% WI, 8.5% NRI
  • Up to 50% WI in active wells
  • Notable operators include Apache, EnerVest, Cimarex, Mewbourne and JMA Energy

Land

  • Significant HBP leasehold position
  • 15,467 net acres in Oklahoma with majority located in the Anadarko Basin
  • 906 net acres in Texas Panhandle and Hardeman Basin
  • All acreage HBP with a substantial position of about 802 net acres in the Stack and Scoop plays
  • Acreage position of about 1,460 net acres in Arkoma Woodford - Caney
  • Acreage position of about 7,706 acres in emerging Anadarko Pennsylvanian Sand horizontal plays

Upside-Horizontal Development

  • Stack, Scoop and Arkoma - primary target in the Woodford and Mississippian
  • Northwest Stack - primary target in the Mississippian and Pennsylvanian Sand
  • Cottage Grove, Marmaton and Cleveland in Anadarko Basin
  • Average 7.9% WI in identified future Woodford and Mississippian horizontals in the Stack and Scoop plays

PGP Holdings is an affiliate of Public Gas Partners Inc.

Bids are due Sept. 11. The sale is expected to close Oct. 18 with an effective date of July 1.

For information visit meagheradvisors.com or contact Jacque Semple, project manager for Meagher, at jsemple@meagheradvisors.com or 918-481-5900 ext. 221.