Marketed: Elephant Oil & Gas Powder River Basin Production, Leasehold

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

Elephant Oil & Gas retained Meagher Energy Advisors for the sale of Powder River Basin production and leasehold in Wyoming’s Converse County.

Highlights:

Tier 1 Powder River Basin

• Premier leasehold position with 42 active horizontals. Tier 1 well performance in Turner/Frontier and Niobrara formations. Thirteen new wells expected online by year-end 2022 with additional 214 locations identified

Core Leasehold

• 10,200 net acres (88% HBP) in Turner/Frontier and Niobrara. Continental currently has an active rig on the position with plans to bring a second rig to the immediate area in the near term

Cash flow and Production

• April 2022 PDP net cashflow of $211,000 and 151 boe/d (74% Oil). 12-month estimated net cash flow of $2.5 million. Few shut-ins with limited P&A liability

Upside

• Production from 26 new wells adds 4,700 net boe/d and $7.8 million/month operating cash flow by March 2023. 23.9 million barrels net oil reserves and 31 Bcf gas from future upside

Bids are due by March 8. The transaction is expected to close in second-quarter 2022 with an effective date of April 1. A virtual data room is available. For information visit meagheradvisors.com or contact Nick Asher, vice president of business development, at nasher@meagheradvisors.com.