The following information is provided by Meagher Energy Advisors. All inquiries on the following listings should be directed to Meagher. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Whiting Petroleum Corp. retained Meagher Energy Advisors for the sale of its Retail upstream and midstream assets in Colorado’s Weld County.
Highlights:
- Unique opportunity: Shallow decline, horizontal Niobrara producing properties and wholly owned midstream assets supplement operating margins and cash flows.
- Significant production: 8,321 boe/d December net production (70% liquids) from diversified commodity mix.
- Robust cash flow: $5.4 million June 2021 net PDP cash flow forecast, $54.9 million 12-month net PDP cash flow forecast.
- Long life assets: 23,500 boe in PDP reserves representing on 8.8-year R/P ratio. Limited near-term P&A.
- Integrated midstream: Redtail plant, midstream compression and gathering systems contributes $1.1 million/month.
- Contiguous rural acreage: 69,308 net acres with regulatory and development risk mitigated through lack of urban exposure.
- Upside: 82 economic (>10% IRR) locations at current price strip identified in three types curve areas. Additional 403 locations at higher prices.
Bids are due June 2. The transaction is expected to have a June 1 effective date.
A virtual data room is available. For information visit meagheradvisors.com or contact Nick Asher, vice president of business development, at nasher@meagheradvisors.com.
Recommended Reading
Permian Resources Closes $820MM Bolt-on of Oxy’s Delaware Assets
2024-09-17 - The Permian Resources acquisition includes about 29,500 net acres, 9,900 net royalty acres and average production of 15,000 boe/d from Occidental Petroleum’s assets in Reeves County, Texas.
VAALCO Reports Increased Reserves After Svenska Deal
2024-07-16 - VAALCO acquired Swedish E&P Svenska’s 27.39% non-operated working interest in the deepwater Baobab Field in Block CI-40, offshore Côte d’Ivoire.
Crackin’ It at Kraken: Inside the Bakken’s Ramped-up Private E&P
2024-07-24 - Kayne Anderson-backed Kraken Resources is producing more than 80,000 boe/d today and has a new Fitch Ratings credit score to take to the M&A bank.
Private Equity Looks for Minerals Exit
2024-07-26 - Private equity firms have become adroit at finding the best mineral and royalties acreage; the trick is to get public markets to pay more attention.
Devon Capitalizing on Bakken, Eagle Ford Refracs
2024-08-07 - Devon Energy’s Delaware Basin production dominated the quarter for the multi-basin E&P, but the company is tapping into recompletion opportunities to supplement production, executives said.
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.