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

Crystal Energy is offering for sale certain nonoperated properties located in the Williston Basin. The company has retained TenOaks Energy Advisors as its exclusive advisor in connection with the transaction.

Asset Overview:

  •  ~23,000 gross unit acre3 non-operated position (100% HBP) largely across a contiguous footprint in Williams County, ND
  •  $13.3 MM NTM PDP Cash Flow in core Williston area
  •  Seasoned production: 60% of cash flow on wells with >5 years of history
    •  103 producing horizontal wells: 73 Bakken / 30 Three Forks
  •  Sizable undeveloped location inventory provides for years of growth opportunities
    •  85 infill PUDs remain: 27 Bakken / 58 Three Forks
    •  Asset is 45% undeveloped
    •  PUD IRRs: Bakken up to 87% / Three Forks up to 36%
  •  Partnered with well-capitalized, proven Williston operators
    •  Zavanna is the leading operator on the position – operated leasehold represents core area of development
    •  Zavanna actively drilling in Stockyard area where Crystal has 5 Bakken and 9 Three Forks PUDs
    •  Other Williston E&Ps that operate portions of the position include Petro-Hunt and Chord Energy (Whiting/Oasis)

Key Considerations:

  • NTM PDP Cash Flow:  $13 MM (3-Yr Cum Cash Flow:  $28 MM)
  • 1,100 boepd (103 horizontal PDPs in core Williston)
  • High average WI:  13.2%
  • PDP PV-10:  $47 MM
  • Total PV-10:  $80 MM
  • 85 Bakken and Three Forks PUD locations de-risked by significant well control
  • Primarily operated by Zavanna (Stockyard and Catwalk)

Bids are due at noon CST Sept. 15.

A virtual data room is available. For information visit tenoaksenergyadvisors.com or contact Mariana Castaneda at TenOaks Energy Advisors at 972-822-3817 or mariana.castaneda@tenoaksadvisors.com.

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