Undisclosed

Transaction Type
Sellers
Marketers
Basin
Stack, Scoop, Anadarko, Arkoma & Central Platform
Post Date
Close Date
Estimated Price
MM
Description

An undisclosed company retained Meagher Energy Advisors to sell Midcontinent minerals spanning five core areas of development in Oklahoma.

The assets are located across the Stack, Scoop, Anadarko, Arkoma and Central Platform areas in Alfalfa, Beckham, Blaine, Coal, Custer, Dewey, Garfield, Grady, Grant, Harper, Hughes, Kay, Lincoln, Major, Payne, Pittsburg, Roger Mills, Seminole, Stephens, Woods and Woodward counties, Okla.

Asset Highlights

  • Assets offer an attractive opportunity to acquire a rapidly developing mineral portfolio within several core areas across the Midcontinent
  • About 891 net mineral acres (NMA)
  • 72% of the portfolio (642 NMA) producing or leased, average royalty 17%
  • 136 PDPs and about 72 recently completed or planned wells waiting to be paid initial revenue
  • 98 active rigs in these 21 counties
  • Average monthly net cash flow over $15,000.00
  • $45,450.00 net cash flow forecasted for December 2018, over a 300% increase on the 12-month average
  • Industry-leading operators include: Sandridge, BP, Bravo, Trinity, Gulfport, Chesapeake, Cimarex, Newfield, Marathon, Continental and Unit

Upside Potential

  • Locations projected to be drilled over the next four years based on current activity
    • 2019- 76 horizontal wells
    • 2020- 78 horizontal wells
    • 2021- 76 horizontal wells
    • 2022- 79 horizontal wells
    • 2023+- 354 horizontal wells

Bids are due Sept. 7. The sale is expected to close Oct. 3 with an effective date of Sept. 1.

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