The following information is provided by Detring Energy Advisors. All inquiries on the following listings should be directed to Detring. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Lime Rock Resources has retained Detring Energy Advisors to market for sale its operated, contiguous, 100% HBP Norge Marchand Sand Unit located in western Grady County, Oklahoma. The assets offer an attractive opportunity to acquire substantial liquids-weighted production generating ~$12MM of NTM PDP cash flow, with multiple development and production optimization projects including highly-economic Marchand horizontal locations, vertical re-frac’s, returns to production and waterflood optimization.
Highlights:
- Substantial Liquids-Rich Production Base
- Current net production: 1 MBoed (50% oil / 75% liquids)
- PDP PV10: $45MM
- PDP Net Reserves: 3.3 MMBoe
- Well Count: 65 producers (59 verticals / 6 horizontals)
- Sizeable base of low-decline, predictable cash flow
- PDP NTM Cash Flow: $12MM
- 13% NTM Decline (11% 2024E)
- Low lifting costs of $12.40/Boe
- Current net production: 1 MBoed (50% oil / 75% liquids)
- Operated & HBP Waterflood
- Large, operated, and contiguous footprint of ~12,000 gross acres
- 100% HBP across multiple formations provides complete operational control with the opportunity for value-add projects
- Assets offer attractive optionality with exposure to the liquids-rich Marchand and gas-rich Medrano
- Efficient operations allowed by concise footprint (~8x4 miles)
- Attractive royalty burden at ~86% NRI 8/8th (average 78% WI / 67% NRI)
- Large, operated, and contiguous footprint of ~12,000 gross acres
- Large Inventory of Economic Development Opportunities
- Ten high-impact undeveloped locations identified for Marchand horizontal development boasting attractive IRRs
- Significant pipeline of 16 low-risk return-to-production & re-frac projects
- Substantial 3P PV10 ($69MM) and net reserves (7.1 MMBoe)
Proposals are due on Feb. 8. Upon execution of a confidentiality agreement, Detring will provide access to the Virtual Data Room, which opens Jan. 11.
For more information visit detring.com or contact Linda Fair, marketing coordinator, at linda@detring.com or 214-727-4996.
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