Sell Side Engagements
Status
Year
White Rock Oil & Gas Williston Basin Leasehold Assets
Asset Summary
Total Net Acres
7,585 Net Acres
Total Net Bakken Acres
5,933 Net Acres
Middle Bakken PUDs
~76
2-Mile Middle Bakken Type Curve EUR
611 MBOE (79% Oil)
3-Mile Middle Bakken Type Curve EUR
904 MBOE (79% Oil)
Drilling Econ (2-Mile)
47% IRR /2.4x ROI
Active
Joint Venture Drilling Opportunity in the North Park Basin of Colorado
Asset Summary
Total Investment Opportunity
~$22 MM
Total Wells
8 PUDs
Target Formation
Niobrara
Project Economics – IRR/ROI
46% / 2.7x
Active
Operable HBP Leasehold and Production for sale in McKenzie County, ND
Asset Summary
HBP Acres
1,865 Net Acres
Average NRI
80.9%
Production
16 BOPD
1280 DSUs
2
Bakken PUDs
7
Bakken Type Curve
645MBOE – Drilling ECON~46% IRR ~ 2.8x ROI
Active
Leasehold Assets in Williston Basin – Basin Oil & Gas and Cobra Oil & Gas
Asset Summary
Total Net Acres
~9,300 Net Acres
DSUs
> 50 DSUs
Middle Bakken PUDs
> 100 Horizontal Middle Bakken PUD Locations
Middle Bakken Type Curve EUR
810 MBOE (2-Mile) / 1,110 MBOE (3-Mile)
Drilling Econ *
2-Mile:188% IRR / 3.3X ROI and 3-Mile: 200% IRR / 3.6X ROI
*Economic assumptions: $75 WTI and $2 Henry Hub, 80% NRI, -$5 Oil Diff, -$1 Gas Diff and D&C of $7.5MM for 2-mile and $9.0MM for 3-mile
Closed
Non-Operated Working Interest Opportunity in the DJ Basin
Asset Summary
Wells
3
Average WI% / NRI%
15.27% / 12.23%
Formation
Codell
Total Net AFE Capital
$2.4 MM
White Rock Oil & Gas Williston Basin Leasehold Assets
Asset Summary
Total Net Acres
3,046 Net Acres
DSUs
4 DSUs
Middle Bakken PUDs
>16 Horizontal Middle Bakken PUD Locations
Middle Bakken Type Curve EUR
1,093 MBOE (2-Mile) / 1,519 MBOE (3-Mile)
Drilling Econ 2-Mile : 3-Mile
69% IRR / 4.3X ROI : 97% IRR / 5.2X ROI
* Assumes $70 WTI, $2.50 HH, D&C for 2-Mile: $8.5MM and 3-Mile: $10.5 MM
Closed
Operated Conventional Assets in the Midland Basin
Asset Summary
Total Wells
79
Net Production
121 BOE/D (99% Oil)
Average WI% / NRI%
93.8% WI / 71.8% NRI
NTM Cash Flow
~$0.8 MM
PDP Reserves
~303 MBOE (96% Oil)
PDP PV-10
~$3.3 MM
Closed
Non-Operated Working Interest Opportunity in the DJ Basin
Asset Summary
PDP Wells
20
Average WI % / NRI %
4.8% / 3.8%
Net Production (7/2024)
92 BOE/D
NTM Cash Flow
$923 M
PDP PV-10
$2.8 MM
