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Northwest Shelf of the Permian Basin, New Mexico Oil & Gas Leasehold and Related Assets For Sale

  • State/Province: new mexico
  • Country: United States
  • Quantity: 1
  • Allow Deals: Yes
  • I Want To: Sell
  • Listed: November 11, 2018 12:51 am
  • Expires: 3214 days, 16 hours
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Description

Rockcliff Energy II LLC (“Rockcliff” or “RCE”) is offering for sale its operated oil & gas leasehold and related assets located in the Northwest Shelf of the Permian Basin, New Mexico. RCE is pivoting operationally from the Permian Basin to East Texas and North Louisiana where the company recently made a significant investment and intends to focus all of its resources going forward. Rockcliff has retained Detring Energy Advisors as its exclusive advisor relating to the transaction.

Asset Highlights:

· ~36,300 Net Acres | 100% Operated

o Large, contiguous acreage position ideal for operations

o Minimal expirations before 2021

o 56% Fee, 40% State, 4% Federal

o Avg. 76% WI / 78% Lease NRI

o ~140 Boed net production from 4 hz San Andres wells

· Acreage Substantially De-risked by RCE’s Successful Hz San Andres Delineation Program

o Learnings provide the necessary framework to embark upon an economically attractive development program

o Future drilling to focus on the P1 reservoir (~20% avg. oil cut)

§ Rockcliff has identified >300 hz locations based on core data and calibrated log data, including SoPhiH mapping

§ The P1 offers an ideal candidate for hydraulic fracturing due to its thick anhydrite top seal and water-blocking carbonate base seal

o Additional development potential within the P2 reservoir, which offers significant in-place volumes

· Value-Enhancing Saltwater Disposal System Established by Rockcliff

o 23 miles of polyline pipe

o One SWD well with ~20 MBwd capacity

o Provides running room and immediate, significant cost savings to the ultimate operator of the properties

Process Overview:

· Evaluation materials available via the Virtual Data Room on Monday, October 16th

o Data room presentations available upon request

· Proposals due on Wednesday, November 8th

· Closing targeted by December 31st

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

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

Melinda Faust

mel@detring.com / (713) 907-2003

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Listing ID: 7759d782e732fd1

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