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.
Kirkwood Oil & Gas LLC through its operating subsidiary Wesco Operating Inc. is offering for sale its vertical operated interests in Colorado’s Moffat and Washington counties as well as its interests in the Iles Station storage tank.
The assets offer an attractive opportunity, according to PetroDivest Advisors, retained by Kirkwood to serve as its exclusive adviser related to the transaction, to acquire 12 liquids-rich wellbores (100% liquids) producing about 106 boe/d (net) generating a resilient, high-margin cash flow stream driven by efficient operations.
Highlights:
- Robust, Stable Production (106 boe/d) and Operating Cash Flow ($1.1 million Next 12-month)
- Current production of 106 boe/d (100% Oil) across 16 active wells (12 producing / Four injection)
- ~100% Working Interest / ~84% Net Revenue Interest across the wellbores
- ~6% annual decline forecasted from ten+ years of steady production history provides reliable cash flow
- PDP PV-10% of $3.6 million and 615,000 boe of PDP reserves
- Current production of 106 boe/d (100% Oil) across 16 active wells (12 producing / Four injection)
- Additional ~$100,000 Next 12-month cash flow is accessed through ownership of the Iles Station storage tank
- 10,000 bbl floating top tank connected to the Tesoro Logistics Northwest pipeline is leased to EnWest Marketing
- PV-10% of $600,000
- Turnkey asset with recent workover investment ensures reliable production and no current idle wells
- Multiple behind pipe recompletion opportunities across position allow for optionality to capture value in a constructive commodity price environment
![PetroDivest Advisors Marketed Map - Kirkwood Oil and Gas Colorado Upstream Opportunity](/sites/default/files/inline-images/PetroDivest%20Advisors%20Marketed%20Map%20-%20Kirkwood%20Oil%20and%20Gas%20Colorado%20Upstream%20Opportunity.png)
Process Summary:
- Evaluation materials available via the Virtual Data Room on Oct. 20
- Proposals due on Nov. 17
For information visit petrodivest.com or contact Jerry Edrington, director of PetroDivest, at jerry@petrodivest.com or 713-595-1017.
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