- Shallow decline, horizontal Granite Wash producing properties and wholly-owned midstream assets supplement operating margins and cash flows.
- 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 15.8-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 50% liquids and 50% gas from 194 operated PDP wells.
- Wholly-owned Wheeler Midstream compression and gathering systems contribute over $700k in stable fee-based cashflows per month.
- ~9,000 contiguous, de-risked HBP net acres in the core of the Granite Wash. 100% HBP with high working interest and limited royalty burden.
Ample de-risked development opportunities and high rate-of-return non-producing, behind-pipe opportunities with reserves totaling 19.4MBOE.