Blackbeard Operating LLC

Transaction Type
Sellers
Marketers
Basin
Ark-La-Tex Region; Haynesville/Smackover Trend Area
Post Date
Close Date
Room Opening Date
Estimated Price
0MM
Description

Blackbeard Operating LLC has retained TenOaks Energy Advisors LLC as its exclusive adviser in connection with its Ark-La-Tex regional exit.

The majority of the offering is located within the Haynesville/Smackover trend area in Webster and Claiborne parishes in North Louisiana. The sale also includes assets in Columbia County, Ark.

Asset Highlights:

  • Sizeable footprint in the prolific Haynesville/Smackover trend area of North Louisiana
    • Historically undercapitalized asset with significant OGIP
    • 26,000 net acres (99% HBP) | Operational control
  • Strong cash flow and production from stacked, proven horizons
    • Multiple productive pay zones across the position including the Pettit, Smackover B/C and Haynesville Sand
    • Net production: 1,150 boe/d (75% liquids based on revenue) | Shallow annual PDP decline of 8%
    • Annualized 2018 PDP cash flow: $10 million
  • Impactful development opportunities with compelling economics
    • Excellent well control for all target zones
    • >330 quantified vertical and horizontal drilling locations
    • >120 quantified behind-pipe recompletion projects

Bids are due July 24. For information visit tenoaksenergyadvisors.com or contact B.J. Brandenberger, partner with TenOaks, at 214-420-2323 or bj.brandenberger@tenoaksadvisors.com. Contact Forrest Salge, TenOaks associate, at 214-420-2327 or forrest.salge@tenoaksadvisors.com for a copy of the confidentiality agreement.