DJ Basin: Non-Operated Working Interest

Property for Sale

Property Information

  • Bid Date: March 21, 2019
  • Effective Date: February 01, 2019
  • Closing Date: TBD
  • Area Size:  
  • Type of Basin: DJ Basin

Executive Summary

Eagle River Energy Advisors, LLC has been exclusively retained by Copper Trail Partners, LLC (“Seller”) for the divestiture of non-operated working interest assets and associated development rights located in the DJ Basin of Weld and Larimer Counties, Colorado.

Property Description

Significant Production Base with Potential Upside

  • ~602 Boe/d net production Jan 2019 (85% Liquids)
  • ~$626,000/mn net cash flow (May – Oct 2018 average)
  • ~$3.6MM projected 2019 net cash flow from current wells
  • 64 permitted wells and 99 additional locations lend potential for near-term development and cash flow upside


DJ Basin Non-Operated Position

  • ~656 net / ~5,764 gross acres non-operated leasehold
  • 19 PDP wellbores with average WI of 6.8%
  • Extraction Oil & Gas and Bonanza Creek Energy operate majority of existing production base
  • 64 permitted locations in the Niobrara & Codell Formations


Engineered Reserves

  • ~681 MBoe / $8.9MM PV10 PDP net Reserves (19 wells)
  • ~2,157 MBoe / $7.6MM PV10 Upside net Reserves         (64 permits / 63 pre-permits / 36 upside locations)
  • 42-83 MBoe/1,000’ lateral length EURs for Niobrara and Codell horizontal targets yielding IRRs as high as 38%


Operators Actively Developing DJ Basin Assets

  • Top DJ Basin operators (Extraction Oil & Gas, Great Western, Enerplus and others) actively permitting and drilling offset to leasehold position
  • DJ Basin operators accelerating asset development given the window of opportunity in the Colorado political environment with 26 active drilling rigs throughout the Basin

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