The following information is provided by Eagle River Energy Advisors LLC. All inquiries on the following listings should be directed to Eagle River. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Eagle River Energy Advisors LLC has been exclusively retained by Evertson Operating Co. Inc. to divest certain operated working interest assets in the Denver-Julesburg (D-J) Basin of Nebraska.
The offering includes 14,660 net acres with 47 PDP, 11 injection and three saltwater disposal wells. Production is 351 net bbl/d of oil with a PDP PV-10 of $30.8 million. The assets generated a last 12-month net cash flow of $8 million.
Asset Overview:
- Diversified Shallow Decline Oil Production
- Net production of 351 boe/d (99% oil)
- Historical shallow decline of ~8% per year
- Production from conventional reservoirs (primarily J sand)
- Well diversified across 47 PDP wells
- Active EOR program on six units
- Highly Profitable Asset
- Low operating costs of $14.42/BO
- Last 12-month net cash flow of $8 million
- PDP PV-10 of $30.8 million
- Little near-term P&A liability, only five operated temporarily abandoned wells
- High Operational Control and Drilling Upside
- Large footprint with 19,380 gross and 14,660 net acres
- 530 Miles of 3D Seismic Data (98% unleased) included
- Potential for both conventional and unconventional exploration targets
- Favorable regulatory climate in Nebraska
Bids are due by 4 p.m. MT on Oct. 11. The transaction effective date is Nov. 1.
A virtual data room will be available starting Sept. 12. For information contact Chris Martina, technical director at Eagle River, at 720-726-6092 or cmartina@eagleriverea.com.
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