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.
Eagle River Energy Advisors LLC has been exclusively retained by Encana Oil & Gas (USA) Inc. to divest certain operated and nonoperated working interest assets in the Williston Basin of Montana and North Dakota.
Highlights:
Elm Coulee Package
- About 35,900 gross (26,600 net) acres majority operated leasehold
- About 93 wells in the Bakken and conventional Reservoirs
- 401 barrels of oil equivalent per day (boe/d) net production / 84% Oil (July 2018 through December 2018 average)
- 82% of net production from Encana operated wells
- $4.6 million 2018 operating cash flow
- Kraken Oil & Gas LLC has delineated the Bakken offsetting acreage with economic well results with IP-30 rates as high as 1,110 boe/d
- White Rock Oil & Gas LLC has proven significant upside in recompletions from multiple Bakken wells offsetting acreage
Big Valley Package
- About 6,900 gross (6,700 net) acres majority operated leasehold
- About seven wells in the Middle Bakken and Three Forks
- 67 boe/d net production / 100% Oil (July 2018 through December 2018 average)
- 100% of net production from Encana operated wells
- $700,000 2018 operating cash flow
- Koda Resources Ltd. recently drilling within the Big Valley Package
- Kraken Oil & Gas has proven significant uplift in historical EURs by implementing modern completion designs East of acreage
OBO Leasehold Package
- About 15,700 gross (5,400 net) acres nonoperated leasehold
- Certain lands outside of Elm Coulee and Big Valley Packages
- About 100 wells in conventional and unconventional reservoirs
- 144 boe/d net production / 84% Oil (July 2018 through December 2018 average)
- $1.3 million 2018 operating cash flow
- Basin-leading operators including Continental Resources Inc., Whiting Petroleum Corp. and others
![Encana Williston Basin Operated And Nonop Asset Map (Source: Eagle River Energy Advisors LLC)](/sites/default/files/inline-images/Encana%20Williston%20Basin%20Operated%20And%20Nonop%20Asset%20Map%20%20Source%20Eagle%20River%20Energy%20Advisors%20LLC.png)
The transaction effective date will be July 1. Bids may be submitted for entire assets or by asset package, according to Eagle River.
Bids are due by 4 p.m. MT Oct. 9. The virtual data room will be available starting Sept. 9.
For information visit eagleriverholdingsllc.com or contact Brian Green, managing director of Eagle River, at BGreen@EagleRiverEA.com or 832-680-0110.
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