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
Seaport Global Securities Marketed Map - Vinland Energy Southern Appalachian Basin Portfolio
The Vinland assets include a total of about 1,500 miles of gathering lines, three NGL stripping plants and significant additional surface facilities and equipment. (Source: Seaport Global Securities LLC)

Bids are due Sept. 29. A virtual data room is available. For information contact James Libretti at jlibretti@seaportglobal.com.

Comments