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.

Stephens Natural Resources LLC and Stephens Energy Group LLC are offering for sale their oil and gas producing properties, leasehold and related assets located in the STACK play in Blaine, Kingfisher, Garfield, Payne and Logan counties, Oklahoma.

The assets offer an attractive opportunity to acquire a large and contiguous roughly 21,900 net-acre, majority-operated position underpinned by a balanced production base garnering $20 million of annual cash flow, coupled with a highly economic drill-ready development program targeting multiple de-risked formations, according to Detring Energy Advisors, which Stephens retained as its exclusive adviser relating to the transaction.

Asset Highlights:

  • Substantial Production Base | ~1.4 Mboe/d | $20 million Operated Cash Flow
    • Balanced net production comprised of ~300 bbl/d (oil), 4.0 MMcfd (gas), and 450 bbl/d (NGL) (52% liquids)
      • PDP PV-10: $76 million
      • PDP Net Reserves: 6.5 million boe
      • Well Count: 112 current producers
    • Sizeable base of predictable, high-margin cash flow
      • $20 million Next 12-month Cash Flow (PDP Only)
    • Healthy returns with an operating cash flow margin of $42/Boe at current commodity prices
      • 78 operated producers account for 93% of PDP value (average 58% Working Interest)
  • Large and Contiguous Land Position | 21,900 Net Leasehold Acres | 100% HBP
    • Majority operated and concentrated position allows for ease of operations and capital budget control
      • Extensive and high-quality infrastructure in place
    • High-quality operated SWD pipeline system with nine SWD wells drive on-going operations
  • Robust Upside Inventory | >150 Mississippian Locations
    • Stacked-pay with multiple de-risked targets across the position
      • Drill-ready development program focuses on the prolific Mississippian with further upside potential in the Oswego reservoir
    • 150+ highly-economic development locations (average 45% Working Interest) generating >200% IRRs + >2x ROI (Discounted 10%)
      • 3P PV-10: $232 million
      • 3P Net Reserves: 26 million boe
    • Additional upside potential in the Woodford formation as on-acreage and offset results have successfully delineated the position
Detring Energy Advisors Marketed Map - Stephens Operated STACK Opportunity
(Source: Detring Energy Advisors)

Process Summary:

  • Evaluation materials are available via the Virtual Data Room on June 15
  • Bids are due on July 20

For information visit detring.com or contact Melinda Faust at mel@detring.com or 512-296-4653.

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