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.
Kaiser-Francis Oil Co. is exiting its entire Arkoma Basin working interest position and has retained EnergyNet Indigo as the exclusive advisor to assist with the sale of both operated and nonoperated horizontal and conventional assets with strong cash flow and significant operated infill drilling opportunities. The 542 well package and gas gathering system is located in various counties in Arkansas and Oklahoma.
Highlights:
Kaiser-Francis Oil Co. is exiting its entire Arkoma Basin working interest position providing buyers an opportunity to acquire both operated and nonoperated horizontal and conventional assets with strong cash flow and significant operated infill drilling opportunities.
- Meaningful acreage position in de-risked Woodford and Mayes plays with significant infill drilling potential offsetting recent completions with excellent production. Majority of infill drilling potential is operated, therefore providing control of development pace. ~160,700 gross and ~27,800 net acres.
- Over 200 gross drilling locations, 62% of total location PV-10 is operated.
- 386 Bcf net, of which 247 Bcf net is operated
- ~9.8 MMcfe/d of low decline, historically stable net production, total PDP next 12-month cash flow of $9.1 million, of which $5.1 million is operated at March 1 pricing (83% horizontal)
- Operated average working interest of ~72.9% and net revenue interest of ~59.2% in 66 wells
- Robust PDP PV-10 of $46.7 million at March 1st pricing (59% operated)
- Nonoperated conventional position spanning the Arkoma Basin with experienced operators including Merit Energy, BRG Energy, Mustang Fuel, XTO Energy and Blackbeard Operating
- Next 12-month cash flow of $4.0 million at March 1st pricing (89% horizontal)
- Nonoperated average working interest of ~8.6% and net revenue interest of ~6.9% in 420 wells
Sealed bids are due by 4 p.m. CDT on April 7. Effective date of sale is May 1.
A virtual data room is available. For complete due diligence information visit indigo.energynet.com or email Ethan House, vice president of business development, at Ethan.House@energynet.com, or Denna Arias, vice president of corporate development, at Denna.Arias@energynet.com.
Recommended Reading
Keeping it Tight: Diversified Energy Clamps Down on Methane Emissions
2024-04-24 - Diversified Energy wants to educate on emission reduction successes while debunking junk science.
MethaneSAT: EDF’s Eye in the Sky Targets E&P Emissions
2024-03-07 - The Environmental Defense Fund and Harvard University recently launched MethaneSAT, a satellite tracking methane emissions. The project’s primary target: oil and gas operators.
CAPP Forecasts $40.6B in Canadian Upstream Capex in 2024
2024-02-27 - The number is slightly over the estimated 2023 capex spend; CAPP cites uncertain emissions policy as a factor in investment decisions.
Majority of Recent CO2 Emissions Linked to 57 Producers - Report
2024-04-03 - The world's top three CO2-emitting companies in the period were state-owned oil firm Saudi Aramco, Russia's state-owned energy giant Gazprom and state-owned producer Coal India, the report said.
Qnergy Tackles Methane Venting Emissions
2024-03-13 - Pneumatic controllers, powered by natural gas, account for a large part of the oil and gas industry’s methane emissions. Compressed air can change that, experts say.