Bid Date: October 09, 2019 | Effective Date: July 01, 2019

PROPERTY INFORMATION

Bid Date:October 09, 2019

Effective Date:July 01, 2019

Closing Date: TBD

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Non Core Williston CA 2019-08-14

ECA – Williston Teaser

EXECUTIVE SUMMARY

Eagle River Energy Advisors, LLC has been exclusively retained by Encana Oil & Gas (USA) Inc. ("Seller") to divest certain operated and non-operated working interest assets in the Williston Basin of Montana & North Dakota. Bids may be submitted for entire assets or by asset package (shown on map).

PROPERTY DESCRIPTION

Elm Coulee Package

  • Richland County, MT / McKenzie County, ND
  •  ~26,600 net / 35,900 gross acres majority operated leasehold
  • ~93 wells in the Bakken and conventional Reservoirs
    •  401 Boe/d net production / 84% Oil (Jul-18 – Dec-18 average)
    •  82% of net production from Encana operated wells
  •  $4.6MM 2018 operating cash flow
  • Kraken Oil & Gas has delineated the Bakken offsetting acreage with economic well results with IP30 rates as high as 1,110 Boe/d
  • White Rock Oil & Gas has proven significant upside in recompletions from multiple Bakken wells offsetting acreage
  • Big Valley Package
  •  Williams & Divide Counties, ND
  •  ~6,700 net / 6,900 gross acres majority operated leasehold
  •  ~7 wells in the Middle Bakken and Three Forks
    •  67 Boe/d net production / 100% Oil (Jul-18 – Dec-18 average)
    •  100% of net production from Encana operated wells
  •  $0.7MM 2018 operating cash flow
  •  Koda Resources recently drilling within the Big Valley Package
  • Kraken Oil & Gas has proven significant uplift in historical EURs by implementing modern completion designs East of acreage
  • OBO Leasehold Package
  • Multiple Counties, MT & ND
  •  ~5,400 net / 15,700 gross acres non-operating leasehold
    •  Certain lands outside of Elm Coulee and Big Valley Packages
  •  ~100 wells in conventional and unconventional reservoirs
    • 144 Boe/d net production / 84% Oil (Jul-18 – Dec-18 average)
  • $1.3MM 2018 operating cash flow
  •  Basin-leading operators including Continental Resources, Whiting Petroleum and others

Agent Details

Asim Baloch

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