The following information is provided by Seaport Global Securities LLC. All inquiries on the following listings should be directed to Seaport Global Securities LLC. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Vinland Energy LLC retained Seaport Global Securities LLC for the sale of its portfolio of producing and midstream assets in the southern Appalachian Basin, located primarily in eastern Kentucky.
The Vinland Kentucky assets represent an opportunity to acquire roughly 15 MMcfe/d of stable, low-decline, liquids-rich production that can be maintained or grown through a highly-efficient capital program, and that is further enhanced by a large, company-owned gas gathering and processing system, according to Seaport.
Highlights:
- Over 142,000 net acres of 100% operated core Appalachian acreage that is 100% HBP
- Current net production of about 15 MMcfe/d with less than a 3% annual decline
- Total proved reserves of 111 Bcfe with a PV-10 of $165 million (PDP PV-10 of $143 million); 10-year forecasted cumulative operating cash flow of $219 million
- Gas gathering and processing system with about 1,500 miles of company-owned and -operated pipeline and three NGL processing plants (total capacity of about 33 MMcf/d)
- Strong Midstream PV-10 contribution of $44 million
- Capital-efficient development plan with 4 WIPs and 20 PUDs reduces decline to nearly zero with minimal capex
- Liquids-rich development locations (62% oil), generate average IRRs of 73%
- Vertical development in the Maxon, Ravencliff and Big Lime formations
Bids are due Sept. 29. A virtual data room is available. For information contact James Libretti at jlibretti@seaportglobal.com.
Recommended Reading
Venture Global LNG Files Paperwork for IPO
2024-12-20 - Venture Global LNG filed initial paperwork for an IPO on Dec. 20, about a week after the company’s Plaquemines LNG facility started production.
Energy Transition in Motion (Week of Dec. 20, 2024)
2024-12-20 - Here is a look at some of this week’s renewable energy news, including billions of dollars in loan awards from the U.S. Department of Energy.
Reuters: Northern Oil and Gas in Bid to Acquire Smaller Rival Granite Ridge, Sources Say
2024-12-20 - Northern Oil and Gas has made an acquisition offer for Granite Ridge Resources, according to people familiar with the matter.
STEP Energy Services Drops Go-Private Deal as Shareholders Balk
2024-12-20 - STEP Energy Services has terminated its agreement with ARC Energy Fund 8 to go private in an all-cash transaction for CA$5 per share.
Enbridge Deals with Clean-Up of Wisconsin Pipeline Oil Spill
2024-12-20 - Enbridge estimates 1,650 bbl have leaked from its Line 6 before repair, an incident that has given fodder to opponents of another Enbridge project.
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.