Bid Date: July 31, 2019 | Effective Date: July 01, 2019

PROPERTY DESCRIPTION

Non-Operated Leasehold in the Wyoming DJ Basin

  •  ~6,405 net acres of non-operated leasehold, majority under Samson Energy
    •  3% HBP / 97% Term
  •  High 8/8ths NRI of 84.5% weighted average and ranging from 80.0% – 87.5%
  •  Ownership across ~78 DSUs (1280-acre spacing)
  • ~3.5 year average primary term expiration with majority in 2023

Near-Term Development Planned

  •  Samson Energy is currently drilling offset to leasehold position
    •  2019 – 2020 development plan includes Seller’s leasehold:
      •  Spud anticipated in December 2019
      • 4 DSUs (2 – 1280-acre and 2 – 1920-acre units)
      •  ~1,034 net acres of Seller’s leasehold (20.2% average WI)

Significant Future Resources Potential

  •  Economic drilling locations in the Codell Formation, achieving EURs of 440 MBoe (87% Oil) and ~35% IRR
  •  $5.2MM D&C cost for 2-mi lateral wells in current Samson drilling program to the southeast position
  •  Substantial upside remaining with ~300 future drilling locations in the Codell Formation across ~78 DSUs
  • Additional resources potential in the Niobrara Formation

Agent Details

Asim Baloch

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