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.
Casillas Petroleum retained Detring Energy Advisors to market for sale its operated and nonoperated leasehold and producing properties located throughout Kansas and Oklahoma.
The assets offer an attractive opportunity to acquire 521 producing wells throughout the Hugoton and SCOOP/STACK/Merge with a well-established production base of 8.7 MMcfe/d (78% gas) and a low, predictable about 10% next 12-month decline generating next 12-month PDP cash flow of $12.2 million including a significant inventory of low-cost development opportunities comprised of both behind pipe recompletions and green field development.
Asset Highlights:
- Low, Predictable Decline Production | 8.7 MMcfe/d (78% Gas) | $12 million next 12-month Operating Cash Flow
- Well-established production underpinned by 521 currently producing wells (92% Kansas/8% Oklahoma)
- Primarily from the Hugoton (90% of next 12-month cash flow, 10% from SCOOP/STACK/Merge)
- Low, predictable 10% next 12-month decline
- $12.2 million next 12-month operating cash flow
- Existing cash flow easily funds development over the next three years, more than $100 million cumulative cash flow by 2030
- PDP PV-10 and net reserves of $51 million and 38 Bcfe, respectively
- Well-established production underpinned by 521 currently producing wells (92% Kansas/8% Oklahoma)
- Shallow Permian aged intervals provide a prolific source of gas in the Hugoton with deeper oil potential in the Pennsylvanian and Mississippian
- Four Oklahoma Horizontal locations targeting the Woodford and 74 vertical locations in both Kansas and Oklahoma add $45 million PV-10 and 25 Bcfe reserves
- 17 low-cost behind pipe additions provide an additional $11 million PV-10
- Behind pipe capital cost of $150,000 per project
- Combined 3P PV-10 of $108 million and 66 Bcfe reserves
![Detring Energy Advisors Marketed Map - Casillas Petroleum - Hugoton - SCOOP-STACK-Merge Opportunity](/sites/default/files/inline-images/Detring%20Energy%20Advisors%20Marketed%20Map%20-%20Casillas%20Petroleum%20-%20Hugoton%20-%20SCOOP-STACK-Merge%20Opportunity.jpg)
Process Summary:
- Evaluation materials are available via the Virtual Data Room on Nov. 7
- Bids are due on Dec. 7
For information visit detring.com or contact Danny Rathan at danny@detring.com or 713-240-5375.
Recommended Reading
Artificial Lift Meets Artificial Intelligence, with Hit and Miss Results
2024-08-23 - Oxy and Chevron are among companies trying to find the sweet spot between data analytics and machine learning with human intervention to optimize production and predict failures before they happen.
What a Trump Win Would Mean for Oil Prices and Stocks
2024-08-23 - A second Trump administration might move the price needle on oil slightly, but OPEC would retain the upper hand in any outcome.
Trans Mountain Appoints New CEO, President
2024-08-23 - Trans Mountain appointed Mark Maki to CEO, succeeding Dawn Farrell who will now be chairman of the board.
Canada’s Train Strike Goes Off—Then Back On—the Rails
2024-08-23 - After the Canadian government stepped in to end the work stoppage, the Teamsters Union indicated that the strike would go forward.
Energy Transition in Motion (Week of Aug. 23, 2024)
2024-08-23 - Here is a look at some of this week’s renewable energy news, including a promising outlook for global offshore wind capacity.