Sell Side Engagements
Status
Year
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
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
Active
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
Active
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
Active
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
Active
Austin Chalk Development Opportunity in Jasper County, TX
Asset Summary
Potential Austin Chalk Wells
14
Net Capex Opportunity
> $100 MM
Initial Investment
~$10 MM in Old Hickory 1H
2-Stream EUR MBOE
2,988 (31% Oil) MBOE
Gross Capex
$14.0 MM
Undiscounted ROI
5.1X
Active
Joint Venture Development Opportunity in Campbell County, WY
Asset Summary
WI (NRI)
50% (40.8%)
Capex
$1.5 MM
PDP PV-10
$202K
PUD EUR
165 MBO
PUD PV-20
$1.3 MM
Active
Operated Working Interest Assets in the Arkoma Basin
Asset Summary
Operated Leasehold Acreage
~2,550 Gross Acres / 2,246 Net Acres
Net Production
~515 MCFE/D
Cash Flow – NTM 8/24
$173,000
PDP PV-10
$1.6 MM
Closed
DJ Basin Operated and Non-Op WI Assets
Asset Summary
PDP PV-10
$9.7 MM
2023 Net Production
492 Net BOEPD
2023 Net Cash Flow
$5.0 MM
Acreage Position
~25,000 Net Acres
Closed
Leasehold Assets in the Williston Basin
Asset Summary
Total Net Acres
1,494 Net Acres
DSUs
20
Middle Bakken PUDs
65
Middle Bakken Type Curve
793 MBOE (2-Mile) / 1,025 MBOE (3-Mile)
Drilling Econ (2-Mile)
78% IRR / 3.2X ROI
Drilling Econ (3-Mile)
90% IRR / 3.8X ROI
Closed
Opportunity in the Central Basin Platform
Asset Summary
PDP PV-10
$38.5 MM
Net Production
625 Net BOEPD
LTM Net Cash Flow
$7.4 MM
Total Net Reserves
5,097 MBOE
Major Fields
4
Closed
