Bid Date: November 14, 2019 | Effective Date: November 01, 2019

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Teaser: Non-Operated Leasehold for Sale in the Permian Basin

Form of CA - EnCore Permian

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

 

Agent Details

Asim Baloch

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