~$108,000/mn net cash flow – Operated

Property for Sale

Property Information

  • Bid Date: July 02, 2018
  • Effective Date: June 01, 2018
  • Closing Date: TBD
  • Area Size: ~4,437 Gross/Net Lease Acres acre
  • Type of Basin: Big Horn Basin

Executive Summary

Eagle River Holdings, LLC has been exclusively retained by Incremental Oil and Gas (“Seller”) for the divestiture of operated working interest assets and associated development rights located in the Silver Tip Field in the Big Horn Basin of Park County, Wyoming.

Property Description

COMMODITY BALANCED CASH FLOW

  • ~26.2 Bcfe total net Proved Reserves
  • ~1,680 Mcfe/d net production (62% Gas / 24% NGL / 14% Oil)
  • ~$108,000 net operating monthly cash flow (3-mo average)
  • Stacked pay conventional field with deep oil and shallow gas and proved production from six formations

OPERATED FIELDIN THE BIG HORN BASIN

  • ~4,437 gross and net acres (100% HBP / HBU)
  • 44% Federal, 14% State and 42% Fee lands
  • 105 gross wellbores with 100% average WI / 83% average NRI
  • 2 injection wells
  • Consolidated operated position

ENGINEERED RESERVES WITH ECONOMIC UPSIDE

  • ~5.5 Bcfe PDP net Reserves (91 producing wells)
  • ~1.2 Bcfe Behind-Pipe net Reserves (12 recompletion candidates) in the Meeteetse, Mesaverde and Frontier Formations
  • ~19.5 Bcfe PUD net Reserves (5 infill PUD locations identified) in the Tensleep Formation with 100%+ IRR
  • ~50 Bbl/d production currently shut-in from the Tensleep due to H2S production

SIGNIFICANT FACILITIES, INFRASTRUCTURE AND EQUIPMENT

  • Operated 18 Mmcf/d liquids stripping plant with 90,000 bbls NGL storage capacity
  • H2S infrastructure of 6” poly in place for Tensleep production to transport sour gas to nearby H2S plant
  • Significant equipment inventory including, storage tanks, pumping units, casing, tubing, rods, frac tanks etc.
  • 14.8 square miles of 3D seismic across field to aid in additional field development

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