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.
Merit Energy Co. retained PetroDivest Advisors to market for sale its oil and gas nonoperated working interest and mineral and royalty interest concentrated in the core of the Anadarko Basin.
The assets offer an attractive opportunity, according to PetroDivest, to acquire robust, low-decline production with growth potential including five recently drilled DUCs plus long-term cash flow bolstered by strong operating margins. The offering also includes a large, diversified nonoperated working interest and mineral/royalty interest position covering roughly 15,200 net acres that supports continued development and delineation of proven pay zones including the prolific Woodford, Springer and Sycamore formations, PetroDivest added.
Highlights:
- Robust Production (~2,100 Mcfe/d; 8% Next 12-month Decline)
- Low-decline, stable production provides reliable cash flow
- 40+ Horizontal PDP | 450+ Vertical PDP
- 3.4% average Working Interest and 3.4% average Royalty Interest
- 1P Reserves: ~12 Bcfe
- Oil: 26% | Gas: 65% | NGL: 9%
- Low-decline, stable production provides reliable cash flow
- Durable Cash Flow with Strong Cash Margins
- The efficiently operated asset generates meaningful cash flow
- $3.7 million Next 12-month PDP cash flow
- $16 million PDP PV-10%
- Resilient cash flow stream ensured by low operating expenses and healthy margins
- ~$5/Mcfe Next 12-month operating cash margin
- Cash flow from blended hydrocarbon production base bolstered by current commodity price rally
- The efficiently operated asset generates meaningful cash flow
- Prolific Acreage Position
- ~15,200 diversified net acre position
- Mineral: ~4,300 net acres
- Nonop: ~8,300 net acres
- Mineral and Nonop: ~2,700 net acres
- Leasehold acreage retains HBP status
- ~15,200 diversified net acre position
Process Summary:
- Evaluation materials available via the Virtual Data Room on Oct. 14
- Proposals due on Nov. 3
For information visit petrodivest.com or contact Jerry Edrington, director of PetroDivest, at jerry@petrodivest.com or 713-595-1017.
Recommended Reading
Baker Hughes Wins LNG Technology Orders for Venture Global
2025-01-30 - Baker Hughes Co. also signed a multiyear services agreement to support the first two phases of Venture Global’s Plaquemines LNG project in Louisiana.
EIA: NatGas Storage Withdrawal Eclipses 300 Bcf
2025-01-30 - The U.S. Energy Information Administration’s storage report failed to lift natural gas prices, which have spent the week on a downturn.
NatGas Prices, E&Ps Take a Hit from DeepSeeking Missile
2025-01-28 - E&Ps such as Expand Energy and EQT Corp. saw share prices drop on news of less power-intensive AI, but analysts predict the natural gas market will rebound as LNG exports and overall power demand continues to increase.
NextEra Energy, GE Vernova Partner to Bolster US Grid
2025-01-27 - The CEO of NextEra Energy, which has entered a partnership with GE Vernova, said natural gas, renewables and nuclear energy will be needed to meet rising power demand.
US NatGas Prices Hit 25-Year Low at Henry Hub, Negative Territory at Waha
2024-11-11 - U.S. spot natural gas prices fell on Nov. 11 to a 25-year low at the Henry Hub. At the Waha Hub in West Texas, prices fell into negative territory.
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.