The following information is provided by Eagle River Energy Advisors LLC. All inquiries on the following listings should be directed to Eagle River. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
U.S. Energy Development Corp. (USEDC) retained Eagle River Energy Advisors LLC to divest certain nonoperated working interest wellbore only assets in the Williston Basin of North Dakota and Montana.
The assets provide the opportunity to acquire a highly diversified production stream by well vintage and operator. They are producing approximately 77 net boe/d (76% oil) at a shallow 11% decline rate, and there is upside potential with 15 PDSI wells. Next 12-month cash flow is projected to be about $1.3 million.
Highlights:
Oil Weighted Producing Assets in North Dakota and Montana
- ~77 boe/d net production (February - April average)
- Oil weighted production (76%)
- $1.3 million annualized cash flow (February - April average)
- 255 existing nonoperated PDP wells (wellbore only)
Highly Diversified Production Profile
- Asset diversification across Williams, Mountrail, McKenzie, Dunn, Billings and Stark counties in North Dakota and Montana’s Richland County
- Highly diversified production stream by well vintage
- Existing well production from the Middle Bakken and Three Forks formations
- Diversified across multiple basin-leading operators
- Shallow decline of 11% due to well vintage
Producing Assets with Additional Upside
- ~293,000 net boe / $3.9 million PV-10 PDP Reserves
- Operational upside with 15 PDSI wells
- ~9,000 net boe / $88,000 PV-10 PDSI Reserves
![Eagle River Energy Advisors Marketed Map - US Energy Development Corp Nonop Williston Basin Assets](/sites/default/files/inline-images/Eagle%20River%20Energy%20Advisors%20Marketed%20Map%20-%20US%20Energy%20Development%20Corp%20Nonop%20Williston%20Basin%20Assets.png)
Bids are due by 4 p.m. MST on Sept. 14. The transaction is expected to have an Aug. 1 effective date.
A virtual data room will be available beginning Aug. 9. For information contact Chris Martina, technical director at Eagle River, at 720-726-6092 or cmartina@eagleriverea.com.
Recommended Reading
E&P Highlights: June 17, 2024
2024-06-17 - Here’s a roundup of the latest E&P headlines, including Woodside’s Sangomar project reaching first oil and TotalEnergies divesting from Brunei.
Where, When and How to Refrac—Weighing All the Options
2024-07-12 - Experts weigh in on strategic considerations when deciding how to rejuvenate production from a tired well.
Welcome to HADES: Peering into the Depths of Downhole Imaging
2024-06-11 - DarkVision’s HADES platform provides unprecedented clarity downhole, delivering remarkable detail to wellbore inspection, the company says.
E&P Highlights: Aug. 12, 2024
2024-08-12 - Here’s a roundup of the latest E&P headlines, with a major project starting production in the Gulf of Mexico and the latest BLM proposal for oil and gas leases in North Dakota.
Beetaloo Juice: US Shale Explores Down Under
2024-06-28 - Tamboran Resources has put together the largest shale-gas leasehold in Australia’s Beetaloo Basin, with plans for a 1.5+ Bcf/d play. Behind its move now to manufacturing mode are American geologists and E&P-builders, a longtime Australian wildcatter, a U.S. shale-rig operator and a U.S. shale pressure-pumper.