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@
Recommended Reading
US Approves Avangrid’s New England Wind Project
2024-07-01 - Plans for Avangrid’s New England Wind, being developed as two projects, include up to 129 wind turbine generators.
Equinor, Dominion Place Winning Bids in US Offshore Wind Sale
2024-08-14 - The offshore wind lease sale for two areas in the Central Atlantic brought in nearly $93 million, according to the U.S. Bureau of Ocean Energy Management.
Ørsted, Mission Clean Energy Form Energy Storage JV
2024-08-08 - The initiative marks Ørsted’s first standalone battery storage partnership in the U.S. and globally.
McDermott Secures Contract for $8.7B Hydrogen, Ammonia Project
2024-06-18 - McDermott said the project, being developed in Canada, will use wind and solar energy to produce hydrogen and ammonia.
Global Grid Infrastructure to Double by 2050, DNV Says
2024-06-19 - To meet growing electricity demand, global grid infrastructure is set to double by 2050, according to Oslo-based DNV.