The following information is provided by Detring Energy Advisors LLC. 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 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 comprise substantial liquids-weighted production generating roughly $11 million of next 12-month PDP cash flow, with multiple economic development projects including highly-economic Marchand and Medrano horizontal locations, vertical refracs, returns to production and waterflood optimization, according to Detring.
Highlights:
- Substantial Liquids-Rich Production
- Current net production: 900 boe/d (60% oil / 80% liquids)
- PDP PV-10: $42 million
- PDP Net Reserves: 3.1 MMboe
- Well Count: 46 producers (40 verticals / 6 horizontals)
- Sizeable base of low-decline, predictable cash flow
- PDP Next 12-month Cash Flow: $11 million
- 15% Next 12-month Decline (11% 2024E)
- Low lifting costs of $13/boe
- Current net production: 900 boe/d (60% oil / 80% liquids)
- Operated and 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% net revenue interest 8/8th (average 78% working interest / 67% net revenue interest)
- Large, operated, and contiguous footprint of ~12,000 gross acres
- Large Inventory of Economic Development Opportunities
- 10 high-impact undeveloped locations identified for Marchand and Medrano horizontal development with 100%+ IRR
- Significant pipeline of 40 low-risk return-to-production and refrac projects
- Substantial 3P PV-10 ($96 million) and net reserves (10.9 MMboe)
Process Summary:
- Evaluation materials available via the Virtual Data Room on Nov. 8
- Proposals due on Dec. 15
For information visit detring.com or contact Melinda Faust at mel@detring.com or 512-296-4653.
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