Sell Side Engagements
Status
Year
Multi Basin Mineral and Royalty Assets
Asset Summary
Area
Net Acres / % HBP/ Avg. Royalty
Permian
146 / 100% / 22.7%
DJ
568 / 100% / 12.5%
Powder
1,260 / 53% / 14.7%
Oklahoma
476 / 27% / 21.2%
Eagle Ford
Haynesville
Tuscaloosa Marine Shale
2,038 / 0% / NA
317 / 100% / 19.4%
76 / 0% / NA
Active
Mid-Con Operated and Non-Operated WI Assets
Asset Summary
Total Wells
103 PDP
PDP Wells
27 Operated / 76 Non-Op
Net Production (4/2025)
69 BOE/D (47% Oil)
PDP PV-9 ($MM)
$4.8 MM
PDP Reserves (2 Stream)
490 MBOE (76% Oil)
2024 Net Cash Flow
$900K 2
Active
Mineral Asset Opportunity in the DJ Basin
Asset Summary
Gross Wells
774 HZ PDP / 29 WIP
Number of DSUs
267
Current Production (BOE/D)
~730 BOE/D (38% Oil)
LTM Cash Flow ($MM)
~$8.9 MM
PDP PV-10 ($MM)
~$25.5 MM
Active
Non-Op Wellbore Only WI and ORRI Opportunity in the Williston Basin
Asset Summary
Gross Wells
940 PDP / 26 PDNP
Average WI % / NRI %
1.6% WI / 1.3% NRI (82.0% 8/8 NRI)
Wells with ORRI
77% of wells
TTM – 4/25 Net Operating Income
$3.7 MM
4/25 Net Production
531 boe/d
Active
White Rock Oil & Gas Williston Basin Leasehold Assets
Asset Summary
Total Net Acres
7,585 Net Acres
Total Net Bakken Acres
5,933 Net Acres
Middle Bakken PUDs
~76
2-Mile Middle Bakken Type Curve EUR
611 MBOE (79% Oil)
3-Mile Middle Bakken Type Curve EUR
904 MBOE (79% Oil)
Drilling Econ (2-Mile)
47% IRR /2.4x ROI
Closed
Joint Venture Drilling Opportunity in the North Park Basin of Colorado
Asset Summary
Total Investment Opportunity
~$22 MM
Total Wells
8 PUDs
Target Formation
Niobrara
Project Economics – IRR/ROI
46% / 2.7x
