We REPRESENT Engagements throughout the U.S.
Middle-market working interest and mineral/royalty opportunities in the upstream oil & gas sector.

Each engagement is backed by our robust technical analysis and market-leading divestiture process, which transform buyers’ evaluations into a confirmatory exercise and minimizes risking—leading to more bids on bid day and at the higher end of the value range.
Current Upstream Oil & Gas Opportunities
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Permian Basin Mineral & Royalty Opportunity
Bids Due: 11/01/2023
Mineral/Royalty
Permian
- ~1,220 Net Acres under premier, highly active Permian-focused operators
- 109 PDP hz wells with 85+ line-of-sight hz locations providing >12 months of line-of-sight growth
- $9MM+ net cash flow over the next 12 months
- $33MM PDP through Wells-In-Progress PV10 and $87MM 3P PV10

Private Seller
Multi-Basin Non-Operated Opportunity
Bids Due: 10/25/2023
Working Interest
Various
- Non-operated working interest portfolio consisting of Eagle Ford and mature, low-decline producing properties (Wyoming, Barnett, and California)
- $26MM in NTM FCF (PDP-only) from a diversified base of >4,000 producing wells
- Core Eagle Ford portfolio with 30 DUCs and permits and ~600 undeveloped locations under premier, highly active operators
- Mature, low-decline portfolio generating consistent yield (6% PDP NTM decline, ~$8MM NTM EBITDA)

Private Seller
Multi-Basin Minerals Opportunity
Bids Due: 10/25/2023
Working Interest
Various
- 1,700 NRA concentrated in the Eagle Ford, Appalachia, and DJ Basins
- $2MM in NTM FCF with line-of-sight cash flow growth from recent high-interest DUCs (133) and permits (50)
- Broad exposure to high quality, well-capitalized operators averaging 14 spuds/month sustained on-minerals development
- Diverse commodity exposure with ~1,900 highly-economic oil-weighted, liquids-rich, and dry gas undeveloped locations


Eastern Shelf Operated Opportunity
Bids Due: 10/25/2023
Working Interest
Permian
- ~3,300 Boed of liquids rich net production (~80% liquid) from 32 producing wells (30 hz)
- $31MM NTM cash flow and $97MM PV10 (PDP-only)
- ~64,000 net acres, mostly operated, across five concentrated development areas
- 28 identified Strawn and Cisco locations generating an avg. ~110 Boe/Mft EUR and up to 100%+ IRRs
- Prolific remaining 3P reserves of 21 MMBoe and value of $216MM PV10


Diversified Wellbore-Only Opportunity
Bids Due: 10/18/2023
Working Interest
Various
- Non-operated wellbore interests in 116 modern, producing horizontal wells in top regions throughout the Lower 48
- $45MM in NTM net operating cash flow generated by established, predictable production streams
- High-interest wells with an average 29% WI and 23% NRI and minimal concentration risk
- Significant net reserves of 12.1 MMBoe (~50% liquids), ~$290MM NPV0 and $165MM PV10


Diversified Mid-Con Opportunity
Bids Due: 10/11/2023
Mineral/Royalty
Mid-Continent
- 1.0 MBoed of liquids-weighted net production (60% liquids)
- $9.0MM in NTM net cash flow from producing assets for $39MM PDP PV10
- 4 active operated waterfloods, 100% HBP, with an attractive royalty burden (~83%)
- Large inventory of upside opportunities, 100% funded through cash flow, 3P PV10 $66MM

GGM
Permian Basin Mineral & Royalty Opportunity
In Progress
Mineral/Royalty
Permian
- 936 NRA offering statistical coverage of highly active Permian Basin regions (~95% Delaware / 5% Midland)
- ~925 PDP horizontal wells and 180+ line-of-sight horizontal locations coming online over the next 12 months
- $3.7MM NTM Cash Flow generating $12MM PV10 across PDP, DUC & Permit categories
- 1,500+ undeveloped locations (asset <40% developed) across 10 key targets contribute to ~$50MM 3P PV10


Operated Kansas Water Flood Opportunity
In Progress
Working Interest
Mid-Continent
- 320 Boed of low-decline, oil-weighted production concentrated in two long-lived waterflood units
- $3.0MM in NTM net cash flow from producing assets for $14MM PDP PV10
- Low-risk upside potential via return-to-production, up-hole recompletion, waterflood reactivation, and artificial lift optimization opportunities


Operated Delaware Basin Opportunity
In Progress
Working Interest
Permian
- Operated stand-up 640 acre unit ready for further development (100% WI & 75% NRI)
- $4.3MM NTM net cash flow from 5 hz PDP wells (4 operated) with 420 Boed of net production
- 4 remaining undev. Bone Spring locations with recent, offset redevelopment examples over Wolfcamp A
- 60%+ IRR single-well economics with ~$55MM 3P PV10

A proven track record in the Oil & Gas sector
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