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.
Peregrine Petroleum Partners Ltd. is offering for sale its oil and gas producing properties, leasehold, minerals and related assets located in Oklahoma’s Ellis, Roger Mills and Dewey counties within the western Anadarko Basin.
The assets, according to Detring Energy Advisors, retained by Peregrine as its exclusive advisor relating to the transaction, offer an attractive opportunity to acquire a roughly 35,000 net-acre, majority-operated, concentrated position with liquids-heavy production generating about $10 million of annual cash flow. The offering also includes a highly-economic, drill-ready development program targeting multiple de-risked formations, Detring added.
Highlights:
- ~1,300 boe/d net production
- Liquids-weighted production with ~$10 million next 12-month op. cash flow (PDP) from 193 producing wells
- PDP PV-10: $30 million
- PDP Net Reserves: 3.6 million boe
- 71 operated producers account for 92% of PDP value (average 85% working interest)
- Liquids-weighted production with ~$10 million next 12-month op. cash flow (PDP) from 193 producing wells
- ~35,000 net leasehold acres and ~1,200 net mineral acres
- Majority-operated, HBP leasehold position provides operational oversight and capital budget control
- 88% HBP
- Incremental mineral rights across numerous highly-prospective units deliver superior economics
- Majority-operated, HBP leasehold position provides operational oversight and capital budget control
- Stacked-pay with multiple de-risked targets
- Development plan focuses on the prolific Oswego, Cleveland, and Cherokee reservoirs
- 110+ highly-economic development locations generating 60%+ IRRs
- 3P PV-10: ~$95 million
- 3P Net Reserves: ~15 million boe
- Offset wells with modern completions yielding vastly improved results
![Detring Energy Advisors Marketed Map - Peregrine Petroleum Western Anadarko Basin Position](/sites/default/files/inline-images/Detring%20Energy%20Advisors%20Marketed%20Map%20-%20Peregrine%20Petroleum%20Western%20Anadarko%20Basin%20Position.png)
Process Summary:
- Evaluation materials available via the Virtual Data Room on Aug. 23
- Proposals due on Sept. 22
For information visit detring.com or contact Melinda Faust at mel@detring.com or 512-296-4653.
Recommended Reading
Baker Hughes to Supply Compression Trains for Algerian Field
2024-05-23 - Baker Hughes will supply 20 compression trains, which are expected to boost gas production at Alergia’s Hassi R’ Mel gas field.
Summit Midstream Commences Tender Offer on Notes Due 2026
2024-07-17 - Summit Midstream also announced July 17 a proposed offering of $500 million in aggregate principal amount of new senior secured second lien notes due 2029.
Akin Energy Practice Adds Midstream Specialist as Partner
2024-05-20 - Trent Bridges, who served as vice president and assistant general counsel for Magellan Midstream Partners, has represented clients in a range of energy transactions, infrastructure development projects and investments, with a particular emphasis on the midstream industry.
USD Partners to Sell Rail Asset as Part of Forbearance Agreement
2024-06-26 - Midstream company USD Partners is selling a Canadian train terminal asset as part of a forbearance agreement to avoid foreclosure or default with its lenders.
EIG Refinances $11B in Senior Debt for Aramco Pipeline Deal
2024-07-07 - EIG subsidiary Pearl Pipelines will use the proceeds to repay financing related to its $25.3 billion acquisition of 49% interest in Aramco Oil Pipelines Co. three years ago.