Marketed: Operated CO2 Flood Permian Assets With Wolfcamp Upside

Marketed: Operated CO2 Flood Permian Assets With Wolfcamp Upside

The following information is provided by Eagle River Energy Advisors LLC. All inquiries on the following listings should be directed to Eagle River. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.

Eagle River Energy Advisors LLC has been exclusively retained by Reinecke Partners LLC for the divestiture of operated working interest assets and associated development rights located in Borden County, Texas, of the Permian Basin.

The consolidated land position is optimal for future CO2 flood expansion, infill drilling and horizontal development and includes upside in the unconventional Wolfcamp and Lower Spraberry.

Asset Highlights

  • ~530 boe/d net production (48% NGL / 27% Oil / 25% Gas)
  • ~$200,000 May 2018 net operating cash flow
  • 60 Bcf owned CO2 reserves in the field (more than 30 Bcf recoverable and salable at ~2% WTI)
  • ~4,358 gross acres operated leasehold (100% HBU) unitized in the Cisco Canyon Reef analogous to the offsetting Kinder Morgan SACROC CO2 flood
  • 112 gross wellbores in unit with 70.4% WI / 60.5% NRI
  • Near-term, low capital upside with three-year workover program to return non-producing wells to production
  • CO2 Flood expansion upside in unflooded structures and adding pay in existing flood to increase recoverable reserves
  • Horizontal Wolfcamp well drilled (WOC) within 0.5 miles of unit boundary

Bids are due by 5 p.m. CST Aug. 22. The sale is expected to close October with a June 1 effective date.

For information visit eagleriverholdingsllc.com or contact Brian Green, managing director for Eagle River, at BGreen@EagleRiverEA.com or 832-680-0110.

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