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.

A private seller retained Detring Energy Advisors to market for sale certain of its oil and gas leasehold related assets across Texas, New Mexico and Wyoming.

Detring described the offering as a diversified investment portfolio that balances geographic consolidation and value concentration providing an attractive opportunity to acquire resilient, high-margin cash flow due to efficient operations and oil-weighted production. Additionally, the firm noted that the assets could serve as a launchpad operational platform to execute numerous identified development opportunities, which could substantially add to the current, stout production profile.

The assets are primarily located in Wyoming’s Campbell, Crook and Johnson counties and Pecos, Upton, Crockett and Schleicher counties, Texas, and while they are being offered as a single package, the seller may consider offers for subsets of the footprint, according to Detring.

Highlights:

  • Robust, Stable Production (685 boe/d) and Operating Cash Flow ($6.6 million Next 12-month)
    • Current production of 685 boe/d (73% Oil) across 235 active wells (168 producing / 67 SWD/I)
    • PDP PV-10 of $28.9 million and 2.7 MMboe of PDP reserves
    • Liquids-weighted commodity mix (86% liquids) supports attractive cash returns with Next 12-month cash margin of ~$28/boe
  • Extensive conventional and unconventional development opportunities provide for optionality to capture value in different parts of the commodity cycle
    • Selected opportunities below are not an exhaustive list of identified projects
      • Tunis Creek (Pecos County)
      • Active waterflood that has eight additional development locations identified to optimize the field
    • Block 38 (Crockett County)
      • Both conventional (stimulation and behind pipe) and unconventional (WCA/WCB/WCC) opportunities
    • King Mountain (Upton County)
      • Multiple capital-efficient behind pipe targets supported by the recent result from Rosa Barnet C #1
Detring Marketed Map - Oil-weighted Operated Portfolio Across Texas New Mexico and Wyoming
Note: Cash flow and production based on preliminary reserves as of July 1 at strip pricing
(Source: Detring Energy Advisors)

Process Summary:

  • Evaluation materials available via the Virtual Data Room
  • Proposals due on July 14
  • While Seller may consider offers for subsets of the asset, preference will be given to total package bids

For information visit detring.com or contact Jerry Edrington at jerry@petrodivest.com or 713-595-1017.

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