Marketed: Windsor Energy, Gulfport Core Williston Basin ORRI
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 said it had been exclusively retained for the sale of overriding royalty interest (ORRI) in the core of the Williston Basin across Montana and North Dakota through an offering closing Aug. 14.
The offer includes assets from Windsor Bakken Shale LLC and Gulfport Energy LLC located in Mountrail, Dunn, McKenzie, Williams and Burke counties, N.D., and Roosevelt County, Mont.
- ORRI in about 15,420 net acres across 104 drill spacing units (100% HBP)
- 471 proved developed producing (PDP) wells provide stable and diversified production profile
- About 357 boe/d net production (85% Oil)
- About $6 million net cash flow (2018)
- 32 Drilled But Uncompleted (DUC) Wells; 104 Permitted Wells
- Significant remaining reserves with between 1.2 million and 1.5 million boe EURs from multi-bench development in the core acreage
- Economic development of the Bakken, Three Forks and Three Forks 2nd Bench yield internal rate of returns of over 100%
- 500-plus remaining, economic drilling locations provide over a decade of potential development in the Bakken and Three Forks
- Successful 2nd bench Three Forks delineation across position
- Additional, unquantified 3rd bench Three Forks resource potential
- Portfolio operators include Continental Resources Inc., ConocoPhillips Co., EOG Resources Inc., Hess Corp., Marathon Oil Corp., Salwson Cos. Inc. and WPX Energy Inc.