Marketed: Garnet Energy Capital Utica Shale Package

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

Garnet Energy Capital LLC retained EnergyNet for the sale of a Utica Shale opportunity through a sealed-bid offering closing Jan. 20. The offering includes nonoperated working interest in four permitted wells plus leasehold acreage in Carroll County, Ohio. Encino Energy is the operator.

Highlights:

• Nonoperated Working Interest in Four Permitted Wells:
  • 7.87% Working Interest / 5.90% Net Revenue Interest
  • ~14,000-ft Wells drilled into the unit at 800-ft Spacing
• First Well to be Spud Jan. 29
• First Production Estimated in June 2022
• Estimated Gross Capital of $8.8M/Well
• Attractive Returns at ~60% IRR/2.9x ROI
• 88.666567 Net Leasehold Acres
• Operator: Encino Energy

Bids are due at 2 p.m. CST on Jan. 20. For complete due diligence information on any of the packages visit energynet.com or email Cody Felton, vice president of business development, at Cody.Felton@energynet.com, or Denna Arias, vice president of corporate development, at Denna.Arias@energynet.com.