~$245,000 /mn Forecasted Cash Flow

Property for Sale

Property Information

  • Bid Date: November 08, 2018
  • Effective Date: September 01, 2018
  • Closing Date: TBD
  • Area Size: 13, 202 Net Acres acre
  • Type of Basin: Williston

Executive Summary

Eagle River Energy Advisors, LLC has been exclusively retained by Crescent Point Energy U.S. Corp. (“Seller”) for the divestiture of non-operated working interest assets and associated development rights located in the Williston Basin of North Dakota and Montana.

Property Description

Production Base with Recent Development:

  • ~10,660 MBoe / $27.0 MM total net Proved Reserves
  • ~245 Boe/d net production (72% Oil / 18% NGL / 10% Gas)
  • ~$239,000/mn forecasted net cash flow
  • Additional $9,000/mn cash flow in Q4 2018 from 3 wells recently completed by Whiting Petroleum in Williams County

Diversified Non-Operated Position in the Williston Basin:

  • ~13,202 net acres non-operated leasehold in the Williston Basin (99.9% HBP)
  • 32% Williams County / 64% Divide County / 3% Burke County / 1% other
  • 106 PDP wellbores with 9.6% average WI (83% average 8/8ths NRI)
  • Leasehold under operators such as Continental Resources, Hess Corporation, Whiting Petroleum and others

Engineered Reserves :

  • ~840 MBoe / $11.1 MM PV10 PDP Reserves (106 wells)
  • PDP upside associated with 103 producing wellbores with APO interest excluded from reserves valuation
  • ~9,820 MBoe / $15.9 MM PV25 PUD Reserves (146 Bakken/Three Forks economic locations in Williams County)
  • Unquantified resource potential in additional Three Forks benches currently being developed by operators in the Basin

Operators Actively Developing Position:

  • Horizontal, unconventional production from the Bakken and Three Forks Formations of the Williston Basin
  • 7 active permits on leasehold lend support for potential near-term development
  • Operators now implementing improved completion designs in non-core regions of the Basin with encouraging results
  • Kraken Oil & Gas proves EUR uplift from larger completion designs directly offsetting Williams County acreage

 

 

 

 

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