The following information is provided by EnergyNet. All inquiries on the following listings should be directed to EnergyNet. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
BKV Chelsea has retained EnergyNet for the sale of a 214 non-operated well package in Bradford, Lycoming, Sullivan, Susquehanna, Tioga and Wyoming counties, Pennsylvania. The lot# 115742 package includes 209 active wells with current net production of 7.5 MMcfe/d.
Opportunity highlights:
- Premium Non-Operated Appalachian Basin Portfolio
-
- Attractive opportunity to acquire non-operated working interests with leading operators in the NE Pennsylvania dry gas Marcellus play;
- $26.3MM PDP PV-10;
- PDP NTM CF estimated at $2.9 MM;
- 209 active wells with current net production 7.5 MMcfe/d;
- Approximately 26,000 gross acres / 6,700 net acres; 100% HBP; and
- Average well ownership 7.1% WI / 5.8% NRI; 18% average royalty burden (8/8ths).
- Predictable Production and Durable Cash Flows
-
- Stable cash flow from diversified portfolio featuring 200+ wells with six operators over five counties;
- Asset value distributed throughout portfolio with 75 wells accounting for top 80% of estimated PV-10;
- Wells have been producing for more than 10 years on average with established and predictable production profile and shallow base decline less than 10%; and
- Minimal near-term abandonment exposure with only $300k of estimated P&A spend through 2030.
- Meaningful Upside Exposure
-
- 111 identified new drill opportunities with estimated $37.1MM PV-10 in addition to refrac targets on early generation wells;
- Natural gas forward strip pricing shows consensus for significant increases in coming years driven by LNG startups and export premium; and
- 100% HBP acreage position offers ownership in future developments unlocked in higher gas price environment.
Bids are due April 23 at 4 p.m. CDT. For complete due diligence, please visit indigo.energynet.com or email Ethan House, managing director, at Ethan.House@energynet.com, or Jessica Scott, buyer, at Jessica.Scott@energynet.com.
Recommended Reading
StimStixx, Hunting Titan Partner on Well Perforation, Acidizing
2024-02-07 - The strategic partnership between StimStixx Technologies and Hunting Titan will increase well treatments and reduce costs, the companies said.
Tech Trends: QYSEA’s Artificially Intelligent Underwater Additions
2024-02-13 - Using their AI underwater image filtering algorithm, the QYSEA AI Diver Tracking allows the FIFISH ROV to identify a diver's movements and conducts real-time automatic analysis.
Subsea Tieback Round-Up, 2026 and Beyond
2024-02-13 - The second in a two-part series, this report on subsea tiebacks looks at some of the projects around the world scheduled to come online in 2026 or later.
Exclusive: Silixa’s Distributed Fiber Optics Solutions for E&Ps
2024-03-19 - Todd Chuckry, business development manager for Silixa, highlights the company's DScover and Carina platforms to help oil and gas operators fully understand their fiber optics treatments from start to finish in this Hart Energy Exclusive.
CERAWeek: AI, Energy Industry Meet at Scary but Exciting Crossroads
2024-03-19 - From optimizing assets to enabling interoperability, digital technology works best through collaboration.