Bid Date: October 03, 2019 | Effective Date: September 01, 2019

EXECUTIVE SUMMARY

Eagle River Energy Advisors, LLC has been exclusively retained by TAQA USA, Inc. (“Seller”) to divest certain operated and non-operated working interest assets and associated lands in the Williston & Powder River Basins of Montana, North Dakota & Wyoming.

 

PROPERTY DESCRIPTION

  • Operated Assets in Montana, North Dakota & Wyoming:
  • ~55,000 net acres majority operated (100% HBP)
  • Diversified across 7 operated and other non-operated fields
  • $3.8MM TTM cash flow (May-19)

 

MATURE CONVENTIONAL PRODUCTION PROFILE:

  • ~735 boe/d 6-month average net production (May-19)
  • 345 existing wells across all fields including injection wells
    • 266 operated / 79 non-operated or ORRI wells
    • 78.4% average WI across all wells
  • Mature, conventional production with ~4% annual decline
  • Existing wells producing from the Ratcliffe, Bakken, Madison, Minnelusa and other conventional reservoirs

 

PRODUCING ASSETS WITH OPERATIONAL UPSIDE: 

  • ~2,365 net MBOE / $17.0MM PV-10 PDP Reserves
  • Significant operational upside with low-capital projects to return wells to production and increase production in existing wells
  • TAQA USA demonstrates productivity of production uplift projects in recent well repairs

 

 

Asset Highlights
Net Acres / % HBP 55,000 net acres / 100% HBP
Existing Wells 345 gross wells
Net Wells / Average WI% 271 net wells / 78.4% average WI
Net Production / % Oil 735 Boe/d / 99% Oil
TTM Cash Flow (May-19) $3.8MM
PDP Reserves ~2,365 net MBOE / $17.0MM PV-10

 

Agent Details

Asim Baloch

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