When it comes to divesting producing or undeveloped operated assets, timing and preparation can make the difference between a competitive sale and a missed opportunity. In today’s dynamic energy market, mid-sized operators seeking to sell assets—whether to realign capital, exit a basin, or consolidate operations—need more than just willing buyers. They need a strategy.

At Eagle River Advisors, we specialize in helping operators position their assets to achieve optimal outcomes in acquisitions and divestitures (A&D). In this article, we’ll explore the key steps you can take to maximize the value of your operated assets before going to market.

1. Start With Clean, Complete Data

One of the most common reasons transactions stall—or result in reduced offers—is incomplete or outdated data. Buyers are increasingly sophisticated, and they expect clear, auditable information.

Essential data sets to prepare include:

• Detailed well-level production history (monthly or daily)

• Lease operating expenses (LOE) by field or well

• Reserve reports (preferably third-party engineering)

• Leasehold maps, HBP status, and expiring acreage

• Infrastructure maps and midstream access

• Permits, drilling schedules, and development plans

• Environmental and regulatory documentation

The more transparent and organized your data room, the faster buyers can assess your assets—and the more confident they’ll be in making a competitive offer.

2. Optimize Asset Packaging for Strategic Appeal

Selling a scattered portfolio of wells and acreage rarely attracts strong buyer interest. Grouping assets into logical packages with clear operational, geological, or geographic synergies helps sharpen the value proposition.

Strategies that can boost buyer engagement include:

• Highlighting nearby offset drilling activity

• Bundling PDP with PUD or upside locations

• Grouping by county, basin, or development plan

• Positioning around infrastructure or takeaway capacity

Buyers want assets that can fit seamlessly into their current operations or unlock new efficiencies. Help them see the opportunity clearly.

3. Address Known Liabilities Early

Any known environmental issues, title defects, or equipment challenges should be disclosed and mitigated before the marketing process begins. Surprises late in due diligence often reduce offers—or kill deals entirely.

Eagle River Advisors recommends running your own internal audit (or using a third party) to:

• Identify title gaps and cure where possible

• Conduct environmental screenings (Phase I)

• Document plugging liabilities and asset retirement obligations (AROs)

• Clarify non-op burdens or encumbrances

Cleaning up the asset profile preemptively adds credibility and can avoid renegotiation down the line.

4. Build a Story That Resonates With the Right Buyers

A&D is not just about assets—it’s about telling the right story to the right audience. A compelling marketing narrative should clearly communicate:

• What’s producing and how stable the base decline is

• How much upside is available (e.g. DUCs, refracs, undrilled locations)

• Why now is the right time to acquire

• How this fits within current regional development trends

At Eagle River Advisors, we work with clients to build customized marketing decks and technical summaries that highlight asset strengths and opportunities in a buyer-focused language.

5. Choose the Right Channel to Market the Asset

Direct outreach to a curated list of qualified buyers is often more effective than open listings—especially in the mid-market A&D space. Your marketing strategy should balance confidentiality, reach, and execution speed.

Our team maintains a proprietary network of active acquirers across all major U.S. basins. By aligning the asset with the right buyers—and avoiding generic exposure—we help clients capture full market value while maintaining control of the process.

Selling operated oil & gas assets is a high-stakes decision. But with the right preparation, messaging, and execution strategy, operators can significantly enhance the value realized from a transaction.

If you’re considering a divestiture of operated properties, Eagle River Advisors is here to help. From technical evaluation to market positioning and transaction execution, our team delivers tailored advisory services to meet your goals—efficiently and confidentially.

Let’s talk about how to position your assets for maximum value.