~$142,000 / Month Net Cash Flow

Property for Sale

Property Information

  • Bid Date: May 03, 2018
  • Effective Date: April 01, 2018
  • Closing Date: TBD
  • Area Size:  
  • Type of Basin: DJ Basin

Executive Summary

Eagle River Holdings, LLC has been exclusively retained by Private Seller for the divestiture of overriding royalty interest assets located in the DJ Basin of Weld County, Colorado.

Property Description

Near-Term Upside with Existing Cash Flow

  • ~160 BOEPD net production
  • ~$142,000 net monthly cash flow (February 2018)
  • 7 wells currently drilling by PDC Energy with estimated sales mid-2018 and $25,000 peak monthly income
  • 24 permits from Extraction Oil & Gas with estimated sales mid-2019 and $70,000 peak monthly income

ORRI Assets in the DJ Basin Core

  • 90 gross wellbores (~1.8% ORRI average)
  • 7 gross PDNP locations in the Niobrara Formation (~0.2% ORRI average)
  • 36 gross PUD locations (~0.7% ORRI average)
  • 21 Niobrara and 6 Codell permits
  • Additional 1 Niobrara and 8 Codell locations identified across position

Engineered Reserves with Upside 

  • ~404 MBOE PDP net Reserves (52 producing wells)
  • ~21 MBOE PDNP net Reserves (7 wells being drilled)
  • ~234 MBOE PUD net Reserves (36 wells)
  • Primary Targets: Niobrara and Codell Formations

Best in Class Operator of Assets

  • Assets operated and to be developed by Basin leading public companies: Extraction Oil & Gas (“XOG”) and PDC Energy, Inc. (“PDCE”)
  • Additional near-term cash flows from non-cost bearing interests

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