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.
Rubicon Oil & Gas II LLC retained Detring Energy Advisors LLC to market for sale its oil and gas leasehold and related interests located in Winkler County, Texas.
The assets offer an attractive opportunity to acquire (i) resilient, high-margin cash flow due to low operating costs and consistent, distributed production from 49 wellbores; (ii) an oil-weighted production base generating about 1,600 boe/d (~80% oil) on a predictable decline profile; and (iii) a turn-key development program with proven results and substantial remaining inventory, including saltwater disposal infrastructure, primed to take advantage of improving oil prices.
Highlights:
- Robust Production (~1,600 boe/d) and Net Cash Flow (~17 million Next 12-Month)
- High-margin, oil rich production and cash flow generated from 49 PDP wells (46 horizontal and three vertical)
- Average 51% Working Interest and 38% Royalty Interest
- Net PV-10 and reserves of $75 million and 5.3 million boe, respectively (PDP)
- Highly Concentrated Position (~11,400 Net Acres, ~70% HBP)
- Blocky, contiguous position provides ease of operations and development
- One remaining 2021 well to complete acreage drill-to-earn program
- Proven and De-risked Wolfcamp Turn-key Development
- 60 total Wolfcamp horizontal development locations across the position provide ample new-drill inventory
- Net PV-10 and reserves of $170 million and 17.7 million boe, respectively (3P)
- Rock quality, well performance, and lack of interference support future infill drilling at 160 acre spacing
- Attractive economics across the position at 20%-60%+ IRR’s
- Track record of successful execution, including recent offset COP 23 1H (~250 boe/d/Mft peak rate)
Process Summary:
- Evaluation materials available via the Virtual Data Room on April 5
- Proposals due on May 5
For information visit detring.com or contact Melinda Faust at mel@detring.com or 512-296-4653.
Recommended Reading
Permian Resources Closes $820MM Bolt-on of Oxy’s Delaware Assets
2024-09-17 - The Permian Resources acquisition includes about 29,500 net acres, 9,900 net royalty acres and average production of 15,000 boe/d from Occidental Petroleum’s assets in Reeves County, Texas.
International OFS Firm HMH Plans to IPO, Activate in M&A
2024-08-13 - The firm is a 50/50 joint venture of Baker Hughes and Akastor ASA formed in 2021 to include brands such as Hydril and Vetco Gray as well as Wirth and Maritime Hydraulics.
APA Corp., TotalEnergies Announce $10.5B FID on ‘Goliath’ Sized Deal Offshore Suriname
2024-10-01 - APA and TotalEnergies’ offshore Suriname GranMorgu development is estimated to hold recoverable reserves of more than 750 million barrels.
Oceaneering Acquires Global Design Innovation
2024-10-30 - Oceaneering purchased Global Design Innovation, the only provider certified by the United Kingdom Accreditation Service (UKAS) to perform remote visual inspection using point cloud data and photographic images.
How Liberty Rolls: Making Electricity, Using NatGas to Fuel the Oilfield
2024-08-22 - Liberty Energy CEO Chris Wright said the company is investing in keeping its frac fleet steady as most competitors weather a downturn in oil and gas activity.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.