Non-Op Acquisition Opportunity – PRB

Property for Sale

Property Information

  • Bid Date: April 25, 2019
  • Effective Date: March 01, 2019
  • Closing Date: TBD
  • Area Size:  
  • Type of Basin: Powder River Basin

Executive Summary

Wold Energy Partners, LLC (“Seller”) has exclusively retained Eagle River Energy Advisors, LLC to divest certain non-operated working interest assets and associated development rights in the Powder River Basin of Campbell, Converse, Johnson and Natrona Counties, WY.

Property Description

Non-Operated Leasehold in the Powder River Basin

  • ~6,416 net / 24,940 gross acres leasehold
  • 64% HBP / 35% Term / 1% Wellbore Only
  • 52 wellbores predominantly producing horizontally
  • 10 AFEs received from Chesapeake (4), EOG (3), Northwoods (2) and Peak (1) in Frontier/Turner (9) and Shannon (1)

 

Unique Opportunity with Leading Active Operators

  • Rare opportunity to learn D&C techniques under the best operators in the Basin with leading well results from multiple horizontal intervals
  • 687 permitted locations from Northwoods, Samson, EOG, Chesapeake and other major operators

 

Existing Cash Flow with Significant Upside

  • ~30 Boe/d net production (Jan 19)
  • 87% Oil / 8% Gas / 5% NGL
  • ~$22,000/mn cash flow (12-mn LOS average)
  • ~$560,000 anticipated additional cash flow remaining in 2019 from 10 wells with AFEs received

 

Attractive, Diverse Reserves profile

  • ~102 MBoe / $1.4MM PV10 PDP reserves
  • ~62 MBoe / $1.4MM PV10 AFE reserves
  • Competitive economics from multi-stacked pay development from multiple intervals, achieving IRRs as high as 65%
  • Significant resource potential in additional intervals

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