The following information is provided by PetroDivest Advisors. All inquiries on the following listings should be directed to PetroDivest. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Urban Oil & Gas retained PetroDivest Advisors to market for sale certain of its operated oil and gas leasehold, producing properties and related assets located in Campbell, Converse and Park counties, Wyoming.
The assets offer an attractive opportunity to acquire consistent, low-decline, waterflood properties underpinned by a 97% oil-weighted production stream generating meaningful next 12-month cash flow of about $5 million, with multiple economic development projects including waterflood optimization, operational efficiencies and vertical infill drilling, according to PetroDivest.
Asset Detail:
- Long-Life Oil Production (97% Oil)
- Current net production of ~210 boe/d (97% oil) from vertical producers across 10 regional fields
- PDP PV-10: $20 million
- PDP Net Reserves: 1.5 million boe
- PDP NTM Cash Flow: $5 million
- R/P: 20 years
- Legacy production base boasts NTM decline of ~5%, which is underpinned by decades of historical production
- Low lifting costs of $17/boe
- Current net production of ~210 boe/d (97% oil) from vertical producers across 10 regional fields
- Operated, HBP Footprint
- 98% Average Working Interest
- 96% HBP
- Extensive infrastructure in-place allows for ease of operations across the active waterflood position
- Assets include 13 active injectors and three water source wells
- Ample upside opportunities include additional upsize workovers, tubing, and fishing jobs, providing near-term production uplift potential
- Total 2P EUR: 1.7 million boe
- Total 2P PV-10: $22 million
Process Summary:
- Evaluation materials are available via the Virtual Data Room on June 22
- Proposals are due on July 27
For information visit petrodivest.com or contact Jerry Edrington, director of PetroDivest, at jerry@petrodivest.com or 713-595-1017.
Recommended Reading
Oil, Gas Execs: To Scale Up CCS, Standardize
2024-09-25 - Executives from Aethon Energy, Aker Solutions, Chevron and NOV said efficiency and repeatability—not cramming new technologies into every venture—are key to lowering costs associated with capturing CO2.
Halliburton Leverages Century of Subsurface Experience for Hydrogen
2024-10-14 - Halliburton’s Nathan Snoke said the company’s 105 years of experience focused on the subsurface enables it to store hydrogen underground and at a lower cost.
‘Hydrogen is Happening’: Chevron Pushes Ahead Despite Industry Doubts
2024-11-06 - Facing a myriad of challenges that include policy uncertainty and costs, companies such as Chevron are moving forward with projects and partners to make progress.
WoodMac: $3.5 Trillion Needed Annually to Hit Net Zero Targets
2024-10-29 - Higher demand for oil, gas and coal will delay peak emissions past 2030 and push the world beyond Wood Mackenzie’s base transition case and closer to a 3 C pathway, the consultancy said in a new report.
Trial and Error: CCS Tries Out Multiple Approaches to Get Ball Rolling
2024-10-30 - Is carbon capture and sequestration about to turn the corner? Some obstacles may stand in the way.
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.