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Deal Summary

Energy Advisors Group has been retained by a Private Seller to market a package of Western Anadarko Basin minerals located in Beckham, Ellis, Roger Mills, Custer & Washita Counties, Oklahoma. The package consists of 771-NMA (99% leased) & 955-NRA spanning 54 sections and royalties are between 12.50%-18.75%.

68-producers on minerals including FourPoint Energy, EOG, Chesapeake, Devon, Mewbourne, Crawley Petroleum & Apache (who recently sold these assets to Presidio Petroleum).

4-Rigs are currently operating in the package locations. Mewbourne (2), FourPoint (1) & Rhino (1).

The 3-Mn Average Net Revenue is ~$3,300.

Key Operators Activity Offsetting Minerals
FourPoint Energy is a key operator in the area and completed 30 Oklahoma wells in 2019 YTD and have a rig currently operating in Ellis Co. FourPoint has shifted 70% of their new operated wells towards long laterals and have a 60% multi-well development strategy.

EOG expected to see a 44% increase in gross production from their Western Anadarko assets in 3Q19. EOG is reportedly exceeding their high-end oil production target by 20% with 53 Oklahoma well completions in 2019 while also cutting per well D&C costs by $400,000.

Atalaya Resources operates 3 wells offsetting the Seller’s minerals in Beckham Co., and recently completed a 1-mile Strawn well in Jun-19 with an IP30 of 1,200 BOED (5% above previous IPs)

Additional Notes
Operators are receiving great results from 1-mile laterals in comparison to extended laterals implying a shift toward lower costs and higher near-term returns. Also, 21 stacked pay targets allow more flexibility in drilling operations and enables the utilization of cost-effective multi-well pad drilling to maximize near-term cash flows.

Asset Highlights:

  • 54-Sections. 771-NMA. 955-NRA.
  • Cleveland, Atoka, Tonkawa, Marmaton
  • 68-Current Producers on Mineral Position.
  • Mineral Interest For Sale
  • —Offset Several IPs >1,500 BOPED

Western Oklahoma Minerals For Sale - Energy Advisors Group

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For more information, contact Richard Martin, Director with EAG, at [email protected], Office 214-774-2150 or Cell 469-866-9796.

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