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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.
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