The following information is provided by Stephens Inc. All inquiries on the following listings should be directed to Stephens. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Ichor Energy LLC retained Stephens Inc. as its exclusive adviser to sell the company’s operated conventional oil assets in a single cash transaction. The primary acreage is located near the Texas-Louisiana border in the Hackberry reservoirs.
Highlights:
- Material Texas and Louisiana Hackberry Footprint with Operational Control
- Primary acreage located near the Texas-Louisiana border
- Vast majority operated on a PV-10 basis
- PV-10 Weighted Working Interest: ~93% | Net Revenue Interest: ~64% (~69% lease Net Revenue Interest)
- Note, Petrodome is the operator of record for operated well locations
- Reserves based upon an updated mid-year Netherland Sewell (NSAI) report; over 80% of PDP value from Hackberry producers
- Long-lived Production Provides Stable Cash Flow
- 2022E Net Production: ~1,350 boe/d
- Forecasts based on NSAI mid-year report, not including probable producing forecasts
- PDP PV-10: ~$80 million
- Next 12-month Average PDP Decline: ~10%
- Next 12-month PDP Cash Flow: ~$20 million
- PDP R/P: ~10 years
- 2022E Net Production: ~1,350 boe/d
- Significant Resources Potential From Asset Base
- Development potential includes return to production, artificial lift, behind pipe and new drill opportunities
- Future development is self-funding, with low drilling costs in conventional reservoirs accessible with vertical wells
- Nine PDNP opportunities quantified
- Nine PUD locations quantified
Bids are due Feb. 4. The transaction is structured as a sale of assets with an effective date of Jan. 1.
A virtual data room is available. For information visit stephens.com or contact Max Young, Stephens associate, at Max.Young@stephens.com.
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