The following information is provided by TenOaks Energy Advisors LLC. All inquiries on the following listings should be directed to TenOaks. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Throne Andrews Partnership Properties LP and Crown GP LLC (together Throne Petroleum) retained TenOaks Energy Advisors as its exclusive adviser in connection with the sale of operated Midland Basin properties.
Highlights:
- Midland Basin footprint with ongoing horizontal development program
- 17,500 gross (16,000 net) acres (95% HBP)
- Recent Throne horizontal completions in the Lower Spraberry / Current offset drilling in the Lower and Middle Spraberry
- Production Base that supports future development
- July projected net production of ~1,200 boe/d (88% Liquids)
- Projected NTM PDP cash flow: $13 million
- PDP PV-10: $55 million (Total Proved PV-10: $181 million)
- Multiple upside opportunities
- >230 locations for horizontal development in the Lower Spraberry, Middle Spraberry and Wolfcamp B
- Inventory of behind pipe and workover projects
Bids are due by noon CST on July 13. The transaction is expected to have a July 1 effective date.
A virtual data room is available. For information visit tenoaksenergyadvisors.com or contact Forrest Salge at TenOaks Energy Advisors at 817-233-4096 or Forrest.Salge@tenoaksadvisors.com.
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