The following information is provided by PetroDivest Advisors. All inquiries on the following listings should be directed to PetroDivest. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Kirkpatrick Oil Co. retained PetroDivest Advisors to market for sale its nonoperated oil and gas properties, leasehold and related assets in Oklahoma, Texas, Colorado, New Mexico and North Dakota.
The assets offer an attractive opportunity to acquire a diverse and balanced production stream of roughly 240 net boe/d (56% liquids) on a low annual decline with robust next 12-month cash flow of about $1.3 million from various conventional and unconventional fields in the Midcontinent, Permian, Denver-Julesburg and Williston basins, according to PetroDivest.
Highlights:
- Consistent, Stable and Liquids-Rich Production Profile
- ~240 net boe/d and ~$1.3 million Net Next 12-month cash flow from 366 wells (302 vertical and 64 horizontal)
- ~17% average Working Interest and ~13% average Royalty Interest
- Operational upside through reactivation of temporarily shut-in wells
- Net PDP Reserves: ~660,000 boe
- Balanced product mix with 31% oil, 44% gas and 25% NGL
- Net PDP PV-10: ~$4.5 million
- ~240 net boe/d and ~$1.3 million Net Next 12-month cash flow from 366 wells (302 vertical and 64 horizontal)
- ~11,500 Net Acres (100% HBP)
- Diversified footprint across 49 counties and five states with access to a multitude of conventional and unconventional plays
- Value concentrated primarily in Oklahoma and Texas
- Depth rights typically limited to conventional targets
- Additional undeveloped potential through vertical infill drilling and specific horizontal opportunities
- Diversified footprint across 49 counties and five states with access to a multitude of conventional and unconventional plays
Process Summary:
- Evaluation materials available via the Virtual Data Room on Oct. 13
- Bids due Nov. 10
For information visit petrodivest.com or contact Jerry Edrington, director of PetroDivest, at jerry@petrodivest.com or 713-595-1017.
Recommended Reading
Energy Spectrum, UGI JV Buys Three Appalachia Gathering Systems
2025-01-28 - Pine Run Gathering LLC, a joint venture between Energy Spectrum Partners and UGI Corp., purchased three gathering systems in Pennsylvania from Superior Midstream Appalachian LLC.
Shale Outlook Appalachia: Natural Gas Poised to Pay
2025-01-09 - Increasing gas demand is expected to rally prices and boost midstream planning as a new Trump administration pledges to loosen permitting—setting the stage for M&A in the Appalachian Basin.
Major Interest: Chevron, Shell Join Vaca Muerta Crude Pipe Project
2025-01-20 - Oil producers are pumping record levels from Argentina’s Vaca Muerta shale. Chevron and Shell have backed a new crude pipeline project that aims to boost takeaway capacity—and exports—of Vaca Muerta oil.
Shale Outlook Permian: The Once and Future King Keeps Delivering
2025-01-11 - The Permian Basin’s core is in full-scale manufacturing mode, with smaller intrepid operators pushing the basin’s boundaries further and deeper.
Gibson, Baytex Energy Enter Infrastructure Partnership in Duvernay
2025-03-12 - Baytex Energy, in partnership with Gibson Energy, is building midstream infrastructure in the Pembina Duvernay play that is expected to be completed by fourth-quarter 2025.
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.