Sold - Confluence Resources - DJ Basin Operated Assets

  • Premier leasehold and mineral position with 18 operated and 7 non-operated producing horizontals. Tier 1 well performance in multiple Niobrara benches and Codell
  • 8,400 BOE/D September net production (81% liquids) from diversified commodity mix
  • September 2022 PDP net cashflow of $15.0MM (99% from operated horizontals), NTM PDP net cashflow forecast of $102MM.
  • 3,628 net leasehold acres (~94% HBP) and 338 net royalty acres in minerals. 55% of leasehold has overriding royalties averaging 6.6%.
  • Production from 38 operated "drill-ready" locations in Weld County adds 18,900 net BOEPD and $34MM/month operating cashflow by September 2023

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