The following information is provided by Detring Energy Advisors. All inquiries on the following listings should be directed to Detring Energy Advisors. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
ConocoPhillips Company (“ConocoPhillips” or “Seller”) has retained Detring Energy Advisors to market for sale certain of its operated oil and gas leasehold, producing properties, and related assets located in Ector County, Texas. The assets provide an attractive opportunity to acquire: (i) 290 Boed of low-decline net production (70% liquids) from 18 producing vertical wells; (ii) high working and net revenue ownership in 5 contiguous, HBP, operated sections; and (iii) material horizontal upside in the Mississippian (Barnett, Meramec, and Woodford) and Wolfcamp/Dean which adds meaningful value beyond PDP.
Asset highlights:
- Liquids-Rich Production Base | 290 Boed | 70% Liquids | 13% decline
- 18 producing wells (6 shut-in)
- Cash Flow: $2.1MM (NTM)
- PV10: $8MM
- Net Reserves: 680 MBoe
- Attractive cost structure and netback at $15/Boe lifting costs (LTM)
- Shut-in wells offer several near-term workover opportunities
- 18 producing wells (6 shut-in)
- Contiguous 2,900+ Net Acres | 100% HBP | 99% WI | 85% NRI
- Legacy assets, fully HBP with well-established production histories
- Contiguous, operated, HBP footprint with high WI/NRI offers ideal platform to execute horizontal development
- Includes deep rights below Grayburg-San Andres (~5,000’)
- Legacy assets, fully HBP with well-established production histories
- Upside Across Multiple Horizontal Targets
- 2,688 net acres in deeper Mississippian targets, which are analogous to recent successful Barnett wells in the area
- 16 locations (8 Barnett + 8 Wolfcamp) with an avg. ~12,000’ lateral length offer material medium-term growth
- 3P PV10: $107MM
- 3P Net Reserves: 10.4 MMBoe
Bids are due at Friday, June 23. For complete due diligence information, please visit Detring.com or PetroDivest.com, or email Linda Fair at Linda@Detring.com.
Recommended Reading
Hibernia IV Joins Dawson Dean Wildcatting Alongside EOG, SM, Birch
2025-01-30 - Hibernia IV is among a handful of wildcatters—including EOG Resources, SM Energy and Birch Resources—exploring the Dean sandstone near the Dawson-Martin county line, state records show.
Formentera Joins EOG in Wildcatting South Texas’ Oily Pearsall Pay
2025-01-22 - Known in the past as a “heartbreak shale,” Formentera Partners is counting on bigger completions and longer laterals to crack the Pearsall code, Managing Partner Bryan Sheffield said. EOG Resources is also exploring the shale.
E&Ps Pivot from the Pricey Permian
2025-02-01 - SM Energy, Ovintiv and Devon Energy were rumored to be hunting for Permian M&A—but they ultimately inked deals in cheaper basins. Experts say it’s a trend to watch as producers shrug off high Permian prices for runway in the Williston, Eagle Ford, the Uinta and the Montney.
Shale Outlook: E&Ps Making More U-Turn Laterals, Problem-Free
2025-01-09 - Of the more than 70 horseshoe wells drilled to date, half came in the first nine months of 2024 as operators found 2-mile, single-section laterals more economic than a pair of 1-mile straight holes.
E&P Highlights: Feb. 18, 2025
2025-02-18 - Here’s a roundup of the latest E&P headlines, from new activity in the Búzios field offshore Brazil to new production in the Mediterranean.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.