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Rock Oil Holdings, LLC (“Rock”) is offering for sale its oil & gas mineral and royalty interests located in Howard County of the Midland Basin

  • State/Province: Texas
  • Country: United States
  • Quantity: 1
  • Allow Deals: Yes
  • I Want To: Sell
  • Telephone Number: (713) 595-1004
  • Listed: May 23, 2018 9:40 am
  • Expires: 3553 days, 5 hours

Description

Rock Oil Holdings, LLC (“Rock”) is offering for sale its oil & gas mineral and royalty interests located in Howard County of the Midland Basin. The assets offer an attractive opportunity to acquire a concentrated position underneath a premier, Permian-focused operator with access to multiple benches across the prolific Wolfcamp & Spraberry horizons. Rock has retained Detring Energy Advisors as its exclusive advisor relating to the transaction.

Asset Highlights:

· 2,588 Net Royalty Acres (Normalized to 1/8th)

o ~100% Minerals

o ~40% HBP

o Exposure to multiple high-royalty interest units, including two recent 7.1% RI permits

· Mineral properties assembled in conjunction with Rock’s 26,000 net acre leasehold position, which was sold to SM Energy in 2016 for $1 billion

o Assets identified with a full multi-disciplined technical characterization, including interpretation of cores, logs, and 3D seismic

o Consistently thick and high-quality pay provides excellent hydrocarbon response across multiple horizons

o Prolific IP rates across the Wolfcamp A, Wolfcamp B, and Lower Spraberry, with substantial potential in other zones including the Middle Spraberry and Wolfcamp D

· 95% operated by SM Energy, which has budgeted ~$900MM D&C capital to the Midland Basin in 2018

o Running an average of 8 hz rigs with a focus on pad development

o Q1 2018 Howard Co. hz wells avg. ~1,450 Boed (~90% oil)

o Avg. ~10,000 ft laterals substantially accelerate mineral cash flow & value

o Most active Howard County operator with 32 wells drilled YTD

· Assets include 54 active producers (37 Hz) plus 22 Hz DUC’s/Permits with an avg. RI of ~1%

o Net Prod: ~230 Boed

o NTM Cash Flow: ~$4.5MM

Process Overview:

· Evaluation materials available via the Virtual Data Room (“VDR”) on Monday, May 21st

o Data room presentations available upon request

· Proposals due on Wednesday, June 20th

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.

Best Regards,

Derek Detring

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

Melinda Faust

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

Matthew Loewenstein

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

Richard Ball

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

Listing ID: 9575afb2615425cb

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