Raymond James | Albrecht : Oil & Gas Divestment
Current Divestitures
Oil & Gas Divestment

Current Divestitures

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Below you will find information and a link to the online data room for each package.

Please contact us to schedule a data room presentation in our offices:
(713) 951-9586
(866) 370-0200

Packages

Non-Operated Working Interest Divestiture: Permian, Fayetteville and Diversified Assets

STATUS: AVAILABLE [Data Room Ends: 07/02/13] [Offers Due: 07/16/13]

 

Proved reserves of 150.8 BCFE with PV10 of $133.1 MM; R/P of proved reserves of 22.0 years
Large inventory of repeatable, low-risk, and ongoing development drilling on primarily HBP acreage
Estimated March 2013 net cash flow of $2.1 MM
 Permian assets with active Wolfberry drilling program and experienced operators; April 2013 estimated net production of 667 BOEPD
 Fayetteville Shale assets operated by top operators in the play, BHP, SWN, and XTO; April 2013 estimated net production of 13.3 MMCFPD
 Diversified assets provide predictable, low-risk profile with exposure to multiple basins, operators, and development stages; April 2013 estimated net production of 1.5 MMCFEPD

 

Project Manager: Michael Mingoia

To schedule a Data Room, or to obtain a CA, please contact Farrah Fannin

 

Oklahoma Oil Asset Divestiture: Osage County

STATUS: AVAILABLE [Data Room Ends: 07/02/13] [Offers Due: 07/10/13]

 

May 2013 net production of approximately 1,100 BOEPD from multiple, stacked shallow oil reservoirs
Proved net reserves of 20.5 MMBOE with PV10 of $245.5 MM; 90% oil by revenue
Projected first year PDP net cash flow of $13.3 MM
Long-life, predictable Mississippian/Pennsylvanian aged development opportunities
Large, primarily HBP leasehold position of ~77,000 gross acres; mostly 100% WI and 80% NRI
626 high-graded PUD locations in inventory
Drilling program can be funded from projected cash flow

 

Project Manager: Philip Pavlich

To schedule a Data Room, please contact Farrah Fannin

 

Big Horn Basin Asset Divestiture: Park, Hot Springs & Washakie Counties, Wyoming

STATUS: COMING SOON [Data Rooms:Early May] [Offers Due: Late June]

 

January 2013 average net sales of 270 BOPD, 200 BNGLPD and 2,150 MCFPD
January 2013 net cash flow of $715 M
8,560 gross acres with mostly 100% WI and 82.5% NRI
Fields include Silver Tip, Whistle Creek, Lake Creek, and Murphy Dome producing from the Frontier

 

Project Manager: Lyndon Harrison

To schedule a Data Room, please contact Tanyia Chuites

 

Oil Asset Divestiture: Kansas and Colorado

STATUS: AVAILABLE [Data Room Ends:06/21/13] [Offers Due: 07/02/13]

 

January 2013 net sales of 443 BOEPD; 93% liquids
Proved reserves of 3.0 MMBOE with PV10 of $62.7 MM; 97% oil
January 2013 net cash flow of $780 M
R/P of 19.5 years based on proved reserves
53,764 gross / 36,305 net acres with average ~ 93% WI and 77% NRI (operated, weighted on reserves)
Long-life, low-decline production from shallow Arbuckle, Lansing-Kansas City and Mississippian reservoirs

Significant upside in additional drilling locations, polymer treatments and Mississippian horizontal potential

 

Project Manager: Gary Huffman

To schedule a Data Room or to obtain a CA, please contact Farrah Fannin

 

Wyoming Asset Divestiture: Lincoln, Niobrara, Sublette & Sweetwater Counties

STATUS: AVAILABLE [Data Room Ends: 04/26/13] [Offers Due: 05/01/13]

 

Large acreage position of 27,000 gross (20,000 net) acres
Total Net Proved Reserves of 25 BCF, 130 MBO and 3,100 MBNGL
Total Proved PV10 of $71 MM
96% operated (by PV10) with average 90% WI and 75% NRI
December 2012 average net sales of 2.4 MMCFPD, 24 BOPD and 280 BNGLPD
Long life, predictable and stable decline with PDP R/P of 14.1 years
Effective date of May 1, 2013

 

Project Manager: Kyle Miranda

Shortcut to VDR (You have already been approved)

Horizontal Wolfbone Play: Delaware Basin, Reeves County, TX

STATUS: AVAILABLE [Data Room Ends: 04/26/13] [Offers Due: 05/08/13]

 

13,000 gross (10,200 net) acres
79% average working interest
Half of the locations have over 98% working interest
76% average lease net revenue interest
Approximately 150 BOEPD net production from four vertical wells
Average of 13 months remaining primary lease term with two-year extensions available
Multiple horizontal targets in Wolfcamp and Bone Spring formations
Six vertical wells drilled with full log suites and production tests
Directly offset by BHP Billiton horizontal wells

 

Project Manager: Levi Heintzelman

Shortcut to VDR (You have already been approved)

Horizontal Cline Acreage: Fisher & Nolan Counties, TX

STATUS: AVAILABLE [Data Room Ends: 03/29/13] [Offers Due: 04/03/13]

 

9,300 Gross (9,100 Net) Blocked-Up Acres
97% Working Interest
75% Lease Net Revenue Interest
Majority of Leases are 3-Year Primary Term with 3-Year Extensions
18 Months Average Remaining Primary Term Plus Extensions
Surrounded by Cline Horizontal Drilling Activity
Operators in Area Include Devon, Firewheel, L.C.S., Gunn, Laredo, Range, King and Kirkpatrick

 

Project Manager: Levi Heintzelman

Shortcut to VDR (You have already been approved)

Operated Waterflood Units: Lea County, NM

STATUS: CLOSING [Data Room Ends: 11/30/12] [Offers Due: 12/05/12]

 

$160 Million Total Proved PV10
Long-Life Predictable Oil Reserves
Established Waterfloods
380 BOPD, 160 Mcfd and 35 Bbls of NGL per day Projected November 2012 Net Sales
8.0 Million Bbls of Oil, 3.2 Bcf and 720,000 Bbls of NGL Net Proved Reserves
15.7 Years R/P
CO2 Flood Opportunities

 

Project Manager: Michael Mingoia

Shortcut to VDR (You have already been approved)

Horizontal Wolfcamp Acreage: Terry & Hockley Counties, TX

STATUS: AVAILABLE

 

89,000 Gross Acres (62,000 net)
Average of 20 months remaining on Primary Term
86% of Acreage has Extension Options
100% Operated
High Working Interest
10 Producing Vertical Wells
Active Extension of Horizontal Permian Basin Play
Multiple Horizontal Targets

 

Project Manager: Levi Heintzelman

Shortcut to VDR (You have already been approved)

Non-Operated Horizontal Bakken & Three Forks:
Dunn, McKenzie, Mountrail & Williams Counties, North Dakota

STATUS: CLOSING

 

1,000 BOPD and 60 Mcfd Projected June 2012 Net Sales
33,300 Gross Acres (13,900 Net Acres)
25 Million Bbls and 10 Bcf Total Net Proved Reserves
3.1 Million Bbls and 1.1 Bcf Total Net Proved Producing Reserves
$335 Million Total Proved PV12
$83 Million Proved Producing PV12
346 Proved Undeveloped Locations

 

Project Manager: Mike Laird

Shortcut to VDR (You have already been approved)

Eagle Ford Shale: McMullen County, Texas

STATUS: CLOSED

 

7,581 Net Acres (7,712 Gross Acres)
Approximately 88 Net 80-Acre Proved Undeveloped Locations
Average 98% Working Interest Across Leased Acreage
4 Producing Horizontal Eagle Ford Wells
340 BOPD, 800 Mcfd, 76 Bbls NGL per Day Projected Average June 2012 Net Sales
$456 Million Total Proved PV12
25 Million Bbls of Oil, 57 Bcf Gas and 6 Million Bbls of NGL Net Proved Reserves
$28 Million Total Proved Producing PV12
623,000 Bbls of Oil, 1.6 Bcf Gas and 151,000 Bbls of NGL Net Proved Producing Reserves
93% of Revenue from Oil and NGL
$1.5 Billion Total Proved Future Net Revenue

 

Project Manager: Mike Mingoia

Shortcut to VDR (You have already been approved)

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