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.
A private seller retained PetroDivest Advisors to market for sale its diversified overriding royalty interests (ORRI) located across Texas and North Dakota.
The seller’s assets offer an attractive opportunity, PetroDivest said, to acquire a concentrated footprint in the core of the Eagle Ford covering about 2,200 net royalty acres underneath premier, highly-active operators including Repsol and ConocoPhillips and meaningful production from 400 producing wells with imminent near-term growth driven by 17 DUCs and 15 Permits generating $3.1 million next 12-month cash flow (PDP/DUC/Permit).
Highlights:
- Meaningful Cash Flow with Line-of-Sight Development
- 90 boe/d net production (~60% liquids) from 400 producing wells with average ~0.6% royalty interest
- PDP PV-10: $4.8 million
- PDP Net Reserves: 270,000 boe
- Strong on-lease activity with two rigs currently running and 17 recently drilled DUCs
- $3.1 million next 12-month cash flow
- 15 permits provide line-of-sight growth through First-half 2023
- PDP+DUC+Permit PV-10: $8.9 million
- 90 boe/d net production (~60% liquids) from 400 producing wells with average ~0.6% royalty interest
- Substantial Undeveloped Inventory (~440 remaining locations)
- 180+ remaining Lower Eagle Ford infill locations yielding 100%+ IRRs
- Additional upside reserves potential from 150+ Upper Eagle Ford and Austin Chalk locations
- High quality, blocky acreage position under premier, well-capitalized Eagle Ford Operators
- ~55,000 gross-acre footprint allows for consistent development activity
- 180+ remaining Lower Eagle Ford infill locations yielding 100%+ IRRs
Process Summary
- Evaluation materials available via the Virtual Data Room on March 21
- Bids are due on April 20
For information visit petrodivest.com or contact Jerry Edrington, director of PetroDivest, at jerry@petrodivest.com or 713-595-1017.
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