The following information is provided by Detring Energy Advisors. All inquiries on the following listings should be directed to Detring Energy Advisors. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
A private seller is offering a high-interest minerals opportunity in the Southern Midland Basin. This lot includes 6,510 Net Royalty Acres (100% minerals), ~7MM in NTM cash flow from 22 producing hz wells and 10 hz DUC's and permits, offering line-of-sight growth through mid-2024. The private seller has retained Detring Energy Advisors as its exclusive advisor relating to the transaction.
Asset Highlights:
- $6.8MM NTM Cash Flow; PDP + Line-of-Sight
- Active growth underwritten by high-interest DUCs (2) and permits (8)
- Average RI of ~5% across imminent near-term locations
- 27 producing wells (22 horizontal) provide a stable cash flow
- Net Prod: 290 Boed (71% liq.)
- PDP PV10: $14MM
- 6,510 Net Royalty Acres; 100% Minerals | 6.7% Avg. RI
- Dense NRA per section provides
material uplift with every new well or
pad developed across the position- 8 section gross footprint of 5,120
acres with high unit royalty interest
ranging from 2.8%-15.3%
- 8 section gross footprint of 5,120
- Key operators include Pioneer, Hibernia, Driftwood, & Henry
- Recent leasing to spur dev. activity
- Dense NRA per section provides
- 76 PUD Locations; Footprint Only 30% Developed
- Significant remaining locations and
anticipated lease bonus offer material
medium-term growth and longevity
over asset life- 3P PV10: $91MM ($241MM PV0)(1)
- 3P Net Reserves: 6.4 MMBoe
- Operators actively extending Wolfcamp A & B development across and beyond Seller’s position
- Three Wolfcamp targets (WCA,
WCB Upper, WCB Lower) offer
>100% avg. IRR
- Three Wolfcamp targets (WCA,
- Significant remaining locations and
Bids are due on June 7. For complete due diligence information, please visit detring.com or email Melinda Faust, managing director, at mel@detring.com.
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