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.
HRM Resources III LLC retained EnergyNet Indigo as its exclusive adviser to assist with the sale of certain oil and gas properties and related assets located in the Greater Green River Basin through a sealed-bid offering closing Feb. 17.
The offering, according to EnergyNet, comprises an opportunity to acquire interests in operated and nonoperated wells along with considerable leasehold acreage the Greater Green River Basin in Wyoming’s Sweetwater County and Moffat County, Colorado. The package also includes substantial near-term cash flow from 57 PDP wells providing reliable, long-term returns on investment.
Additionally, the contiguous acreage and well locations provide economics of scale for operations and workovers, EnergyNet said, with gas-weighted production generating about 6 MMcfe/d and a stable, low next 12-month production decline average of roughly 9% primarily from the Mesaverde Formation.
Highlights:
Asset Overview
~70,000 combined Net leasehold acres
- Operated Working Interest in 20 Wells:
- Average Working Interest ~97% / Net Revenue Interest ~82%
- An Additional Overriding Royalty Interest (ORRI) in 12 Wells
- 15 Producing Wells | Five Shut-In Wells
- Nonoperated Working Interest in 37 Wells (52 Prop.)
- Average Working Interest ~67% / Net Revenue Interest ~54%
- An Additional ORRI in 33 Properties
- 10 Wells Completed in Multiple Formations
- 41 Producing Properties | Three Non-producing Properties | One Active Injection Well | Seven Shut-In Properties
- Operator: Wexpro Co.
- Current Six-month Average Net Income: $392,741/month
- PDP NPV-10: $16.47M
- PDP Net Res.: 22.6 Bcfe
Upside
Flexible upside potential
- 21 low risk proved undeveloped locations on 40 acres spacing
- Horizontal development potential of proven Baxter shale with modern D&C techniques
- Self-driven development pace on largely HBP leasehold acreage
Bids are due by 4 p.m. CST on Feb. 17. The transaction is expected to close in early March with an effective date of March 1.
A virtual data room is available. For complete due diligence information visit indigo.energynet.com or email Ethan House, vice president of business development, at Ethan.House@energynet.com, or Denna Arias, vice president of corporate development, at Denna.Arias@energynet.com.
Recommended Reading
Scout Taps Trades, Farm-Outs, M&A for Uinta Basin Growth
2024-11-27 - With M&A activity all around its Utah asset, private producer Scout Energy Partners aims to grow larger in the emerging Uinta horizontal play.
Marketed: Stone Hill Exploration and Production Four Well Package in Ohio
2024-09-10 - Stone Hill Exploration has retained EnergyNet for the sale of a four well package including two proved developed producing wells in Harrison County, Ohio.
EnSight IV Energy Seller of Haynesville Assets to Quantent
2024-09-23 - EnSight said it had sold more than 7,000 net acres in Caddo, De Soto, Bossier and Red River parishes, Louisiana, to Quantent Energy Partners LLC for an undisclosed sum.
Diamondback Swaps Delaware Assets, Pays $238MM For TRP’s Midland Assets
2024-11-04 - After closing a $26 billion acquisition of Endeavor Energy Resources, Diamondback Energy is getting deeper in the Midland Basin through an asset swap with TRP Energy.
Prairie Operating Gets Output, Acreage Boost from Nickel Road M&A
2024-10-02 - Prairie Operating closed an acquisition of acreage and production in Weld County, Colorado, where the D-J Basin player is drilling its first Niobrara horizontals.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.