Overriding Royalty Interest in the Core Williston Basin

Property for Sale

Property Information

  • Bid Date: August 14, 2019
  • Effective Date: July 01, 2019
  • Closing Date: TBD
  • Area Size:  
  • Type of Basin: Williston

Executive Summary

Eagle River Energy Advisors, LLC has been exclusively retained by Windsor Bakken Shale, LLC ("Seller") and Gulfport Energy, LLC ("Seller") et al. for the divestiture of overriding royalty assets in the Williston Basin of Mountrail, Dunn, McKenzie, Williams, Burke, and Roosevelt Counties, ND and MT.

Property Description

Diversified Overriding Royalty Position

  • ORRI in ~15,420 net acres across 104 DSUs (100% HBP)
  • 471 PDP wells provide stable & diversified production profile
  • 43 wells drilled/year on Seller’s assets for the last 10 years

 

Compelling Drilling Economics

  • Significant remaining reserves with 1,200 – 1,500 MBoe EURs from multi-bench development in the core acreage
  • Economic development of the Bakken, Three Forks and Three Forks 2nd Bench yield IRRs >100%

 

Proven Multi-Bench Development

  • 500+ remaining, economic drilling locations provide over a decade of potential development in the Bakken and Three Forks
  • Successful 2nd bench Three Forks delineation across position
  • Additional, unquantified 3rd bench Three Forks resources potential

 

ORRI Position Under Active Operators

  • Portfolio operators include Continental, ConocoPhillips, EOG, Hess, Marathon, Slawson and WPX
  • Portfolio operators actively permitting & drilling with 27 of 58 active rigs in the Basin

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