Marketed: TPR Mid-Con Core Merge Operated, Nonop Leasehold

The following information is provided by Detring Energy Advisors LLC. All inquiries on the following listings should be directed to Detring. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.

TPR Mid-Continent LLC is offering for sale certain of its oil and gas producing properties, leasehold and related assets located in Grady County, Okla., throughout the core of the prolific Merge area.

Detring Energy Advisors was retained by TPR Mid-Continent, an affiliate of Travis Peak Resources LLC which was acquired by Paloma Partners LLC earlier this year, to market the assets. According to Detring, the assets offer an attractive opportunity to acquire a large, contiguous acreage position including substantial current production and access to multiple highly economic, proven horizons across the core liquids-rich gas and overpressured oil windows of the play.

Highlights:

• 15,900 Net Acres Across the Core of the Merge Play
  • 50% operated and about 70% HBP
  • Operated Assets: 8,000 net acres
  • Nonoperated Assets: 3,130 net acres
    • Diversified footprint with exposure to premier operators including Continental Resources Inc., Jones Energy Inc., Camino Natural Resources LLC and others
  • Non-HBP Assets: 4,770 net acres with opportunity to gain operatorship through forced pooling
• About 1,700 barrels of oil equivalent per day (boe/d) Net Production (roughly 60% Liquids)
  • About $30 million proved developed producing (PDP) PV-10 value
  • Roughly $10 million operating cash flow (next 12 months PDP)
  • 60 producing wells with continued cash flow growth unwritten by nine horizontal wells waiting-on-completion
• Overpressured Woodford and Mississippian Targets Provide Well Delineated, Multi-Bench Inventory
  • More than 1,400 identified gross locations across multiple proven horizons including the Woodford, Springer and Mississippian (Meramec, Osage, Sycamore)
  • Continued improvement in well performance and economics resulting from optimized completions, longer laterals and pad development across all benches
    • 50%-80% rate-of-return wells with about 4 million barrels of oil equivalent EUR and 2,500 boe/d IP-30
  • Woodford thickness consistently greater than 100 ft and up to 250-plus ft in certain areas;  Mississippian section ranges from 250 to 600-plus ft across the majority of the position

Process Overview:

• Evaluation materials available via the Virtual Data Room Oct. 9
• Proposals due Nov. 13

Detring said Travis Peak anticipates executing a purchase and sales agreement by December, with closing occurring at the end of January.

For information visit detring.com or contact Melinda Faust at mel@detring.com or 713-595-1004.