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Hunt Marcellus, LLC (“Hunt”) is offering for sale its Appalachian Basin leasehold, minerals and related midstream assets located in Elk County, Pennsylvania.

  • State/Province: PA
  • Country: United States
  • Quantity: 1
  • Allow Deals: Yes
  • I Want To: Sell
  • Telephone Number: (713) 595-1003
  • Email Address: matt@detring.com
  • Listed: July 13, 2018 4:00 pm
  • Expires: 291 days, 23 hours
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Description

Hunt Marcellus, LLC (“Hunt”) is offering for sale its Appalachian Basin leasehold, minerals and related midstream assets located in Elk County, Pennsylvania. The assets offer an attractive opportunity to acquire ~20,600 contiguous net acres (93% Fee Minerals, 100% HBP) with exposure to a prolific stacked-pay resource across the Marcellus and Utica Shales. Hunt has retained Detring Energy Advisors as its exclusive advisor relating to the transaction.

Asset Highlights:

· 20,600 Net Acres (100% HBP)

o Large, Operated, Contiguous & HBP Acreage Position

§ 19,100 mineral acres (100% NRI) and 1,500 leasehold acres (87.5% NRI)

§ Ideal for operations and extended reach laterals

§ Fee ownership yields long-term optionality and bolsters economics (99% NRI avg. across the position)

o 3 MMcfd Net Production

§ $1.5MM op. cash flow (NTM PDP)

§ Majority of production from 7 horizontal Marcellus wells

o Prolific stacked-pay resource with 450+ ft in the Marcellus and Utica-Point Pleasant and a combined potential resource scope of over 2 Tcf

§ Hunt assets located within Seneca Resources “Western Development Area” where modern completion techniques have greatly improved regional Marcellus results

§ Seneca continues to actively de-risk the Utica in Elk County with initial results supporting a type curve of 2.0+ Bcf/1,000’

o Significant inventory across a highly contiguous position drives operational efficiencies

§ ~120 Marcellus and ~60 Utica locations with an ~8,300’ avg. lateral length

§ 60+ locations off existing pads

o Facilities in-place to support immediate development

§ 6 pad sites, centralized facility, water supply and impoundments, and gathering system connected to Dominion Gas Pipeline and Domtar Paper Plant

§ Immediate proximity to TGP and Seneca provides take-away capacity optionality

· Pipeline to Domtar Paper Plant secures take-away and yields significant cash flow

o 3 mile pipeline built and operated by Hunt to supply plant’s ~13 MMBtu/d daily gas demand

§ Operation and maintenance fees generate ~$2.5MM annual cash flow net to Hunt

§ 25-30 MMBtu/d peak capability

Process Overview:

· Evaluation materials available via the Virtual Data Room (“VDR”) on Monday, July 23rd

o Data room presentations available upon request

· Proposals due on Wednesday, August 22nd

Please see the attached opportunity overview for additional details regarding the properties and sales process.

Please contact Matt Loewenstein to request a confidentiality agreement, schedule a presentation, or learn more about this opportunity.

Best Regards,

Derek Detring

derek@detring.com / (713) 595-1001

Matt Loewenstein

matt@detring.com / (713) 595-1003

Melinda Faust

mel@detring.com / (713) 595-1004

Richard Ball

richard@detring.com / (713) 595-1005

Listing ID: 135b49129894e3c

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