The following information is provided by RedOaks Energy Advisors LLC. All inquiries on the following listings should be directed to RedOaks. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Revolution Resources LLC is offering for sale certain operated and nonoperated properties in Caddo and Grady counties, Oklahoma. The company has retained RedOaks Energy Advisors as its exclusive adviser in connection with the transaction.
Key Considerations:
- Opportunity to acquire two producing, low-decline fields: Northeast Verden Unit (Caddo and Grady) and Chitwood Northwest (Grady)
- Northeast Verden Unit: Shallow decline waterflood unitized in the Marchand Sand
- Chitwood Northwest: Conventional targets producing from the Medrano reservoir
- Total PDP PV-10: $19.6 million
- Forecasted Dec. 2022 net production: 186 bbl/d of oil | 141 Mcf/d | 16 bbl/d of liquids
- Next 12-month PDP cash flow: $4.2 million
- Low lifting costs (<$20/bbl) supports strong cash flow margins
- Substantial upside remaining
- Five quantified horizontal Marchand drilling locations (Average capex: $5.5 million | Average IRR: 36%)
- 13 quantified RTP projects (Average capex: $85,000 | Average IRR: 79%)
(Source RedOaks Energy Advisors LLC)
Bids are due at noon CST on Jan. 5. The transaction is expected to have an effective date of Dec. 1.
A virtual data room is available. For information visit redoaksenergyadvisors.com or contact Will McDonald, associate of RedOaks, at Will.McDonald@redoaksadvisors.com or 214-727-4996.
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