Marketed: Eagle Resources Group Mississippi Lime Opportunity

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

Eagle Resources Group LLC is offering for sale its oil and gas producing properties, leasehold, minerals and related assets located in Woods, Alfalfa and Grant counties, Oklahoma. The assets comprise a roughly 5,800 net-acre position 100% HBP with 53 horizontal PDP Mississippi Lime wells producing 3.2 MMcfe/d on a well established, low-decline of about 10% generating $6 million in next 12-month cash flow fully funding 45 highly economic development locations.

Eagle has retained PetroDivest Advisors as its exclusive adviser relating to the transaction.

Highlights:

• Operated Properties (1,750 Mcfe/d Net Production | 2,700 Net Acres)
  • 13 low-decline horizontal PDP wells with next 12-month decline of 10% making $3.2 million next 12-month operating cash flow
    • PDP PV-10: $12.5 million
    • PDP Net Reserves: 8.4 Bcfe
  • Average 72.4% Working Interest | 56.4% Net Revenue Interest
  • Operated saltwater disposal system provides additional income stream and reduces overall LOE cost
• Nonoperated Properties (1,400 Mcfe/d Net Production | 3,100 Net Acres)
  • 40 low-decline horizontal PDP wells with next 12-month decline of  13% making $2.7 million next 12-month operating cash flow
    • PDP PV-10: $9.9 million
    • PDP Net Reserves: 5.3 Bcfe
  • Avg 18.0% Working Interest | 14.4% Net Revenue Interest
  • Focused, well-capitalized nonop partners including SandRidge, Mach, Chaparral and others
• Undeveloped Inventory (45 Highly Economic Miss Lime PUDs)
  • Leasehold 100% HBP
  • Two operated and 43 nonoperated gross locations targeting the Mississippi Lime
    • Undeveloped PV-10: $21.2 million
    • Undeveloped Net Reserves: 12.4 Bcfe
  • De-risked development locations primed for full unit drill out
  • Robust economic returns with individual well payouts of about nine months 

Process Summary:

• Evaluation materials are available via the Virtual Data Room on July 13
• Bids are due on Aug. 17

For information visit petrodivest.com or contact Jerry Edrington, director of PetroDivest, at jerry@petrodivest.com or 713-595-1017.