Bid Date: November 14, 2019 | Effective Date: November 01, 2019
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Teaser: Non-Operated Leasehold for Sale in the Permian Basin
EXECUTIVE SUMMARY
Eagle River Energy Advisors, LLC has been exclusively retained by EnCore Permian Holdings, L.P. ("Seller") to divest certain non-operated working interest assets and associated lands in the Delaware & Midland Basins of Howard & Pecos Counties, Texas.
PROPERTY DESCRIPTION
Non-Operated Position with Leading Permian Basin Operators
- 238 net acres non-operated leasehold
- 100% HBP
- Diversified leasehold across 4 DSUs and operators
- Assets operated by publicly traded, Permian Basin focused E&P companies
- Callon Petroleum, Encana, Jagged Peak, and Parsley Energy
Active Development Across All 4 DSUs
- 10 producing horizontal wells in the Wolfcamp 'A' and Lower Spraberry
- All 10 horizontal wells brought online 2018 - 2019
- 3 DUCs and 1 active Permit provide line of sight to near-term development
Compelling Horizontal Drilling Economics Across Multiple Intervals
- Recent, modern completions by asset operators demonstrate drilling economics >40% IRR
- Significant remaining drilling inventory in proven reservoirs (Wolfcamp 'A' / Lower Spraberry) across all DSUs
- Additional stacked-pay potential across un-tested horizontal targets in each DSU
- Bone Spring, Wolfcamp B - D, Upper Spraberry and others
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