Sold -Tapstone Energy - Granite Wash Upstream & Midstream Assets

  • April estimated EBITDA of $2.65MM with a profit margin of 82% including midstream, and a 12-Month forecast total PDP net cashflow of $30.4MM. 

  • 32MBOE in 1P reserves representing a 15.76-year R/P ratio, shallow annual decline rate of 13% for the oil phase and 10% for the gas phase.  Limited near-term P&A.

  • Trailing 6-Month average net production of 5,532 BOE per day consisting of 10% oil, 40% NGLS and 50% gas by revenue from 194 operated PDP wells.

  • Wholly-owned Wheeler Midstream compression and gathering systems contribute over $700k in stable fee-based cashflows per month.

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