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.
Eagle Resources Group LLC is offering for sale its oil and gas producing properties, leasehold, minerals and related assets located in Woods, Alfalfa and Grant counties, Oklahoma. The assets comprise a roughly 5,800 net-acre position 100% HBP with 53 horizontal PDP Mississippi Lime wells producing 3.2 MMcfe/d on a well established, low-decline of about 10% generating $6 million in next 12-month cash flow fully funding 45 highly economic development locations.
Eagle has retained PetroDivest Advisors as its exclusive adviser relating to the transaction.
Highlights:
- Operated Properties (1,750 Mcfe/d Net Production | 2,700 Net Acres)
- 13 low-decline horizontal PDP wells with next 12-month decline of 10% making $3.2 million next 12-month operating cash flow
- PDP PV-10: $12.5 million
- PDP Net Reserves: 8.4 Bcfe
- Average 72.4% Working Interest | 56.4% Net Revenue Interest
- Operated saltwater disposal system provides additional income stream and reduces overall LOE cost
- 13 low-decline horizontal PDP wells with next 12-month decline of 10% making $3.2 million next 12-month operating cash flow
- Nonoperated Properties (1,400 Mcfe/d Net Production | 3,100 Net Acres)
- 40 low-decline horizontal PDP wells with next 12-month decline of 13% making $2.7 million next 12-month operating cash flow
- PDP PV-10: $9.9 million
- PDP Net Reserves: 5.3 Bcfe
- Avg 18.0% Working Interest | 14.4% Net Revenue Interest
- Focused, well-capitalized nonop partners including SandRidge, Mach, Chaparral and others
- 40 low-decline horizontal PDP wells with next 12-month decline of 13% making $2.7 million next 12-month operating cash flow
- Undeveloped Inventory (45 Highly Economic Miss Lime PUDs)
- Leasehold 100% HBP
- Two operated and 43 nonoperated gross locations targeting the Mississippi Lime
- Undeveloped PV-10: $21.2 million
- Undeveloped Net Reserves: 12.4 Bcfe
- De-risked development locations primed for full unit drill out
- Robust economic returns with individual well payouts of about nine months
Process Summary:
- Evaluation materials are available via the Virtual Data Room on July 13
- Bids are due on Aug. 17
For information visit petrodivest.com or contact Jerry Edrington, director of PetroDivest, at jerry@petrodivest.com or 713-595-1017.
Recommended Reading
Exclusive: Silixa’s Distributed Fiber Optics Solutions for E&Ps
2024-03-19 - Todd Chuckry, business development manager for Silixa, highlights the company's DScover and Carina platforms to help oil and gas operators fully understand their fiber optics treatments from start to finish in this Hart Energy Exclusive.
CERAWeek: AI, Energy Industry Meet at Scary but Exciting Crossroads
2024-03-19 - From optimizing assets to enabling interoperability, digital technology works best through collaboration.
Cyber-informed Engineering Can Fortify OT Security
2024-03-12 - Ransomware is still a top threat in cybersecurity even as hacktivist attacks trend up, and the oil and gas sector must address both to maintain operational security.
Forum Energy Signs MOU to Develop Electric ROV Thrusters
2024-03-13 - The electric thrusters for ROV systems will undergo extensive tests by Forum Energy Technologies and SAFEEN Survey & Subsea Services.
Axis Energy Deploys Fully Electric Well Service Rig
2024-03-13 - Axis Energy Services’ EPIC RIG has the ability to run on grid power for reduced emissions and increased fuel flexibility.