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Point Energy Partners Operating LLC retained EnergyNet for the sale of an overriding royalty interest in a 24-well package plus seven DUCs located in Ward County, Texas. The Lot# 103955 package includes the 24 active wells with current net production of 1.1 MMboe/d (81% liquids) across the Wolfcamp and Bone Spring formations of the Permian Basin.

Opportunity highlights:

  • 24 active wells producing from five stacked unconventional reservoirs across the Wolfcamp and Bone Spring formations
    • 1.1 Mboed current net production, 81% liquids
    • All completed 2020 and later with decades of production remaining
  • 7 DUCs scheduled for completion and TIL in first half (1H) of 2023
    • 12,400 ft. average lateral length
    • 4,000+ lbs/ft. high-intensity completion design has demonstrated production outperformance compared to offset wells
  • Average RI: 9.5%
  • NTM cash flow $25.3MM supported by meaningful existing production base
  • Favorable RI attributes
    • PEP retains average WI of 99% among the wells and full economic alignment with RI
    • Experienced Delaware pure-play operator with a track record of strong operational performance and currently running a two-rig program
    • Newly installed state-of-the-art production facilities reduce carbon footprint and maximize profitability with minimal downtime
    • Advantageous long-term marketing arrangements for stable margins and cash flow
103955 map

Bids are due at 4:00 p.m. CDT on Feb. 9. Bids are due at 4:00 p.m. CDT on Feb. 8. For complete due diligence information, please visit energynet.com or email Zachary Muroff, managing director, at Zachary.Muroff@energynet.com or Reilly Bilton, director of engineering at EnergyNet Indigo, at Reilly.Bilton@energynet.com.

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