Marketed: Comstock Resources Nonop Bakken Shale Opportunity

The following information is provided by EnergyNet. All inquiries on the following listings should be directed to EnergyNet. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.

Comstock Resources retained EnergyNet Indigo for the sale of certain oil and gas properties and related assets located in the Bakken Shale through a sealed-bid offering closing Sept. 2.

The offering includes nonoperated working interest in a 436 well package located in Montana and North Dakota.

Highlights:

• Opportunity to acquire highly economic nonoperated working interest in 436 wellbores:
  • Average Working Interest of ~15.5% and Net Revenue Interest of ~12.6%
  • 427 actively producing wells
• Last six-month average net production of ~6,408 boe/d (~56% oil)
• Strong cash flow of ~$47.4 million per year (1Q 2021 annualized)
• PDP PV-10 $196 million (strip Aug. 3)
• 2021 Production weighted average by zone:
  • Bakken Shale ~96%
  • Three Forks ~2%
  • Sanish ~2%
• Exposure to top Bakken Operators including Continental Resources, Oasis Petroleum, RimRock Energy Partners, Whiting Petroleum
• Operating cost reduction of ~5% ($/barrel of oil) 1Q 2021 compared to FY 2020

Bids are due by 4 p.m. CST on Sept. 2. A virtual data room is available. 

For complete due diligence information visit indigo.energynet.com or email Zachary Muroff, vice president of business development, at Zachary.Muroff@energynet.com, or Denna Arias, vice president of corporate development, at Denna.Arias@energynet.com.