The following information is provided by Detring Energy Advisors. All inquiries on the following listings should be directed to Detring Energy Advisors. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Finley Resources retained Detring Energy Advisors for the sale of non-operated oil and gas leasehold, producing properties, and related assets concentrated in Lea County, New Mexico and Ward County, Texas. The assets provide an attractive opportunity to acquire: (i) 1,160 Boed of oil-weighted net production (70% oil) from ~150 producing horizontal wells; (ii) $19MM in next-twelve-months operating cash flow (PDP + Near-Term/WIP); and (iii) 60+ additional PUD locations across six target horizons with superior economics via high lease NRI (87%) ensuring continued development within operator portfolios.
Asset Highlights:
- $19MM NTM Op. Cash Flow | PDP + Line-of-Sight Development
- Ongoing development under Coterra & Tap Rock in core Northern Delaware accelerates near-term value
- 70 wells TIL over last 12 months
- 19 current DUCs and permits
- 169 producing wells (149 hz) provide cash flow underpinning future development
- PDP/WIP PV10: $65MM
- Current net production of 1,160 Boed grows to 1,370 Boed March 2024
- Ongoing development under Coterra & Tap Rock in core Northern Delaware accelerates near-term value
- Core Delaware Basin | 656 Net Acres | 87% Lease NRI
- Access to core units supporting dense development including high-value “State-Line” units operated by Tap Rock and Coterra
- High-interest non-op. exposure to basin-focused operators Tap Rock, Coterra, Revenir, and Battalion
- Avg. 3.5% WI / 3.0% NRI
- 60+ PUD Locations | Assets Only 70% Developed
- Highly economic locations across 60+ locations and 6 hz targets warrant future full development
- 3P PV10: $118MM
- 3P Net Reserves: 7.6 MMBoe
- Ongoing Wolfcamp, Bone Spring, & Avalon development with additional unquantified long-term potential
- World-class Delaware Basin results generate 220+ Boed/Mft IP30 (avg.)
- 3x+ Discounted ROI across all major targets ensures continued allocation of operator capital
- Highly economic locations across 60+ locations and 6 hz targets warrant future full development
Bids are due Wednesday, May 17. For complete due diligence information, please visit detring.com or email Melinda Faust, managing director, at mel@detring.com.
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