Marketed: Eagle Land STACK Wellbore-only Opportunity

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

Eagle Land retained Detring Energy Advisors to market for sale its nonoperated wellbore-only producing assets located in Blaine and Canadian counties, Oklahoma.

The assets offer an attractive opportunity, Detring said, to acquire a balanced revenue stream in the prolific STACK play with established production (30+ months per well) and meaningful near-term cash flow ($10.7 million next 12-month PDP) that generates high-margin, healthy returns. The assets are operated by Devon Energy, a well-capitalized, regionally focused producer offering high-quality stewardship across both pad development areas, Detring added.

Highlights:

• Substantial Production Base of 1,300 net boe/d (55% Liquids)
  • Production generated by 16 horizontal wells across seven pads within two development units
    • PV-10 of $34.6 million
    • Net reserves of 3.8 million boe
  • Both units developed by Devon Energy in early 2019 utilizing modern completion techniques
    • Fully developed intervals mitigate infill risk
• Robust, Stable Cash Flow Generates Substantial Yield
  • Next 12-month cash flow of $10.7 million from steady, reliable production base
    • Forecast next 12-month decline of 19%
    • 30+ months of historic production per well provides confidence in forecasts
    • 12% forecast decline 2025E
  • The assets generate healthy returns with an operating cash margin of ~$27/boe (2022E)

Process Summary:

• Evaluation materials available via the Virtual Data Room on March 7
• Bids are due March 30

For information visit detring.com or contact Melinda Faust at mel@detring.com or 512-296-4653.