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.
NP Resources (NPR) is offering for sale its oil and gas leasehold and related interest located within the Williston Basin in North Dakota’s Billings, Golden Valley and McKenzie counties. The assets offer an attractive opportunity to acquire resilient, high-margin cash flow uplifted by low lifting costs and an oil-weighted production base generating, according to Detring Energy Advisors, which NPR retained as its exclusive adviser related to the transaction
Additionally, Detring noted the offering includes several high-returning behind-pipe opportunities with no direct exposure to the Dakota Access Pipeline plus a substantial inventory of horizontal development locations providing over a decade of running room across 400+ Three Forks locations funded through cash flow.
The asset, Detring said, is unlevered, and NPR will entertain offers consisting of cash, stock, or a combination thereof.
Highlights:
- ~100,000 Net Acre Position (~85% HBP)
- Large, operated and contiguous position provides developmental control with rights across multiple productive horizons
- Opportunities to increase DSU working interest’s with new well permitting and AFE proposals, leasing programs, and working interest owner considerations
- Two field offices, three active saltwater disposal wells, and two additional saltwater disposal permits
- High Margin, Stable Production (~1,200 boe/d | 10% Annual Decline)
- Oil-weighted production with low lifting costs (~$14/boe) with low base annual decline
- ~$14 million next 12-month cash flow (PDP)
- ~$60 million PV-10 and 4.9 million boe net reserves from 68 horizontal and 12 vertical producing wells (PDP)
- 400+ Three Forks/Pronghorn Locations For Development
- Engineered completion methods generate attractive economics (45%+ IRR) while utilizing more efficient completions (1,000+ boe/d IP24; 940,000 boe EUR)
- Net PV-10 and reserves of ~$460 million and ~150 million boe, respectively (3P)
- Development program lives within cash flow, requiring no additional investment
- 58 locations ready for near-term development including permits or pending permits
- NPR has completed a robust geologic study of the region, identifying high graded areas of the position, as well as conventional opportunities across the area
- Operators such as Continental Resources Inc. and Whiting Petroleum Corp. have successfully developed the Pronghorn member of the Three Forks just southeast of the position in an area of similar rock quality, de-risking future development
Process Summary:
- Evaluation materials available via the Virtual Data Room on May 12
- Proposals due June 9
For information visit detring.com or contact Melinda Faust at mel@detring.com or 512-296-4653.
Recommended Reading
Meta, Sage Geosystems Enter Geothermal Deal
2024-08-26 - Sage Geosystems says the company will use its geopressured geothermal system to provide Meta’s data centers with carbon-free power.
Weatherford Announces Acquisition of Technology Company Datagration
2024-09-03 - The acquisition gives Weatherford International digital offerings for production and asset optimization and demonstrates its commitment to continuously driving innovation across its technology portfolio, the company said.
Voyager Midstream Buys Haynesville G&P Assets from Phillips 66
2024-09-03 - Voyager Midstream acquired about 550 miles of natural gas pipelines, 400 MMcf/d of gas processing capacity and 12,000 bbl/d of NGL production capacity.
SandRidge Closes $144MM Western Anadarko Basin Acquisition
2024-09-03 - SandRidge Energy’s deal, with an undisclosed party, adds net production of 6,000 boe/d (40% oil) in Ellis and Roger Mills counties, Oklahoma.
Beyond Energy: EnergyNet Expands Marketplace For Land, Real Assets
2024-09-03 - A pioneer in facilitating online oil and gas A&D transactions, EnergyNet is expanding its reach into surface land, renewables and other asset classes.
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.