Download Files:

Teaser - ORRI & NonOp Assets for Sale in the Core Williston Basin

Confidentiality Agreement

EXECUTIVE SUMMARY

Eagle River Energy Advisors, LLC has been exclusively retained by Gulfport Energy Corporation ("Seller") to divest certain overriding royalty interest and non-operated working interest assets in the Williston Basin of Dunn, McKenzie, McLean & Montrail Counties, North Dakota.

PROPERTY DESCRIPTION

ORRI & WI Opportunity in the Core of the Williston Basin

  • 441 producing wells with overriding royalty interest
    • 0.04% ORRI average
  • 18 producing wells with non-operated working interest
    • 2.0% WI / 1.6% NRI average
  • 62 DUC / Confidential ORRI wells provide near-term growth
  • 42 permitted locations (39 ORRI / 3 WI) & additional infill drilling locations provide long-term growth

Cash Flow Stability

  • ~$1.2MM annualized cash flow (Oct-19; 6-mn average)
  • Significant additional cash flow anticipated to come online in 2020 from 62 DUC / Confidential wells
  • Diversified well vintage shelters cash flow from high initial decline rates of new wells

Diversified Among Top Williston Basin Operators

  • Assets operated by diverse set of Basin-leading operators including Bruin, Marathon, WPX, XTO & others
  • Ownership in >100 DSUs
  • Significant upside with infill development potential
  • Recent Marathon recompletions on Seller's wells with IP30s as high as 515 Boe/d (20x uplift)
  • Three Forks 2nd Bench wells on and offset to Seller's assets show promising production results