Michigan Production and Leasehold

Alcona, Alpena, Missaukee, Montmorency, Oscoda, and Roscommon Counties

Asset Highlights

Shallow Production Decline and Steady Cash Flow

  • Monthly net cash flow of $350,029 (June, projected)
  • Net PDP reserves of 1,827 MBO, 19.6 BCF, and 48 Mbbls NGL
  • PDP of $27.0 MM with additional $94.6 MM in upside (PV10)
  • 321 net BOPD primarily from secondary recovery with shallow declines, often <6%. 
  • 6.0 net MMCFD and 18 Bbls/NGL per day from PDC and Antrim vertical wells
  • 442 producing wells and 129 Inj/SWD wells averaging 96% WI and 85% NRI
  • Includes one gas plant and 20 central processing facilities

Large HBP Acreage Position

  • 62,000 approximate net acres, 100% operated
  • 100% of the leasehold is held by production (some leases require rentals)
  • 10,590 net acres consolidated in the Richfield waterfloods 

Upside Opportunities

  • Extensive analysis of behind-pipe, drilling, and secondary recovery opportunities
  • >60% IRRs require little up-front capital in most cases

For Questions, Please Contact:

Nick Asher, VP Business Development (303) 721-6354 ext. 260
Aaron Hugen, Engineering Manager (303) 721-6354 ext. 228
Chris McCarthy, Executive VP (303) 721-6354 ext. 224

Bid Date

June 25, 2019

Effective Date

June 1, 2019

Closing Date

July 26, 2019

Pending listings cannot be ordered.

NOTE: A Confidentiality Agreement (“CA”) must be executed prior to receiving the data package for this listing. Once you order the package you will receive the Executive Summary along with the CA.

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