Marketed: TRP Energy SCOOP/MERGE Working Interest Opportunity

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.

TRP Energy LLC is offering for sale its oil and gas producing properties, leasehold and related assets located in the core of the SCOOP/MERGE plays of the Anadarko Basin, according to Detring Energy Advisors which TRP retained as its exclusive adviser relating to the transaction.

The assets offer an attractive opportunity, Detring said, to acquire operated and nonoperated working interest in roughly 5,700 net acres yielding PDP cash flow of $10 million projected for the next 12-months and a blended, high-margin production base from over 100 horizontal producers. The package also includes a multitude of high-returning development locations across the proven Mississippian and Woodford formations, the firm added.

Highlights:

• Operated and Nonoperated Working Interest Package
  • ~5,700 net acres | 98% HBP | >70% operated
  • Operated: ~4,200 net acres in Grady and McClain Counties
    • Fully HBP and primed for future pad development
  • Nonoperated: ~1,500 net acres across the broader SCOOP/MERGE fairway
    • Diversified exposure to active, well-capitalized, basin-focused operators including Camino Natural Resources, Citizen Energy, Paloma Partners, Continental Resources and EOG Resources
• Substantial Production Base
  • ~760 boe/d (70% liquids) across 104 horizontal wells
    • 360 bbl/d of oil, 1.5 MMcf/d of natural gas, 150 bbl/d NGL
    • Low annual decline of ~15% (next 12-month PDP)
    • PDP PV10 and net reserves of $39 million and 2.8 million boe, respectively
  • High-margin base of predictable cash flow
    • $10 million next 12-month PDP cash flow
    • Low lifting cost of ~$7/boe
    • Ample cash flow supports continued development activity
• Significant Resource Potential
  • Woodford and Mississippian intervals are de-risked and ready for pad development
  • Over 140 highly economic locations boasting 100%+ RORs
  • Undeveloped PV-10 and net reserves of $73 million and 15 million boe, respectively
  • Ease of operations with established midstream infrastructure and regulatory processes in-place

Process Summary:

• Evaluation materials available via the Virtual Data Room on Jan. 20
• Proposals due on Feb. 23

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