The following information is provided by TenOaks Energy Advisors LLC. All inquiries on the following listings should be directed to TenOaks. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
EnerVest Energy has engaged TenOaks Energy Advisors LLC as its exclusive adviser in connection with the sale of certain operated assets in the San Juan Basin in San Juan and Rio Arriba counties, N.M.
Asset Highlights:
- Sizable Footprint in the San Juan Basin
- 26,461 gross / 18,722 net acres (100% HBP / 97% operated)
- Avg. WI: 87% / Avg. NRI: 66% (about 75% NRI/WI)
- Long-lived Production Base
- Recent net production: about 7.6 MMcfe/d (75% gas)
- Annualized 2018 PDP Cash Flow of about $3.4 Million
- Producing formations: Fruitland Coal, Pictured Cliffs, Mesaverde, Mancos, Gallup and Dakota
- Material Uptick in San Juan Activity
- Multiple new operators have entered the San Juan Basin over the past 2-3 years
- Horizontal drillers targeting the Fruitland Coal (shallow) and Mancos/Gallup (deep) formations
- Vertical operators focused on recompletions in stacked pay zones
Bids are due Sept. 19. The transaction is targeted to close by Nov. 13.
For information visit tenoaksenergyadvisors.com or contact Forrest Salge, associate for TenOaks, at forrest.salge@tenoaksadvisors.com or 214-420-2327.
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