~$265,000/mn Net Cash Flow

Property for Sale

Property Information

  • Bid Date: August 09, 2018
  • Effective Date: June 01, 2018
  • Closing Date: October 31, 2018
  • Area Size: 90,000 Net Acres & 190,000 Gross Acres acre
  • Type of Basin: Arkoma Basin

Executive Summary

Eagle River Holdings, LLC has been exclusively retained by Vanguard Natural Resources, Inc. (“Seller”) for the divestiture of operated and non-operated working interest assets and associated development rights located in the Fayetteville Shale Play and the Greater Arkoma Basin of Arkansas.

Property Description

Diversified Producing Assets

  • ~33.4 Bcf / $15.2MM Proved net Reserves
  • ~8,000 Mcf/d net production (100% Gas)
  • ~$265,000/mn net cash flow (6-mo average)
  • Diversified profile of operated and non-operated mature conventional production and unconventional shale production

Significant Position in the Greater Arkoma Basin

  • ~90,000 net and ~190,000 gross acres operated and non-operated leasehold (100% HBP)
  • 654 gross wellbores with average of 20.2% WI / 17.2% NRI
  • 123 gross wellbores with ORRI only (2.0% average)

Engineered Reserves

  • ~30.4 Bcf / $14.2MM PDP net Reserves (737 producing wells)
  • ~3.0 Bcf / $1.0MM PUD net Reserves (2 well locations) in the Mansfield Field
  • ~9.6 Bcf / $1.5MM Probable Behind Pipe net Reserves from 14 wells with identified recompletion potential

Unconventional Upside Unlocked with Modern Completions

  • Significant undeveloped reserves in the Atoka, Fayetteville Shale and Moorefield Shale Plays economic for horizontal development at higher commodity price
  • Modern completion techniques utilizing higher pump rates, larger water volumes and proppant are beginning to be tested by offset operators, lending potential for additional significant future upside in undeveloped reserves

 

 

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