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U.S. Energy Development Corporation (“USEDC”) is offering for sale its core Delaware Basin leasehold and related assets

  • State/Province: NM
  • Country: United States
  • Quantity: 1 package deal
  • Allow Deals: Yes
  • I Want To: Sell
  • Telephone Number: (713) 595-1004
  • Email Address: mel@detring.com
  • Listed: September 18, 2018 8:49 am
  • Expires: 3220 days, 8 hours
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Description

U.S. Energy Development Corporation (“USEDC”) is offering for sale its core Delaware Basin leasehold and related assets located in Lea and Eddy Counties, New Mexico. The asset offers an attractive opportunity to acquire ~1,950 net acres (100% HBP) throughout active horizontal development. USEDC has retained Detring Energy Advisors as its exclusive advisor relating to the transaction.

Asset Highlights:

· 1,946 Net Acres

o 100% HBP

o 23% Op / 77% Non-Op

o 51% Lea County / 49% Eddy County

· 220 Boed Net Production

· $1.8MM operating cash flow (PDP next 12 months)

· $5MM+ PDP PV10

· 57 Producing Wells

o 5 operated (53% avg. WI) / 52 non-op (10% avg. WI)

o 40 horizontal / 17 vertical

· Participating in 9 horizontal wells operated by Devon (6), Oxy (2), and Matador (1)

o ~$2.9MM net D&C

o ~6% avg. WI

· Properties Located in the Most Active Basin in the U.S.

o >80 horizontal rigs running in the northern, New Mexico portion of the basin

o Three proven benches across the 2nd Bone Spring, 3rd Bone Spring, and Wolfcamp XY with IP30’s over 2,000 Boed

o USEDC’s assets include ~700 net acres in Oxy’s “Greater Sand Dunes” prospect area with substantial future development potential

Process Overview:

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

o Data room presentations available upon request

· Proposals due on Wednesday, May 23rd

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

Please contact Melinda Faust to request VDR access, 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: 5955ad103937147d

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