Current Engagements

Please contact Melinda Faust to learn more about our current offerings.

Melinda Faust, Managing Director
(713) 595-1004

Lime Rock Resources – Norge Marchand Unit Opportunity

• Substantial Liquids-Rich Production (900 Boed, 60% oil / 80% liquids) from 46 current producers (40 verticals / 6 horizontals)
• Established waterflood with a concise footprint (~8×4 miles) and an attractive royalty burden at ~86% NRI 8/8th (average 78% WI / 67% NRI)
• Large, operated, and contiguous footprint of ~12,000 gross acres (100% HBP) across multiple formations provides complete operation control with the opportunity for value-add projects
• Large inventory of economic development opportunities with exposure to the liquids-rich Marchand and gas-rich Medrano offering the buyer an attractive optionality
• Significant pipeline of 40 low-risk return-to-production and re-frac projects
• Bids due December 15, 2021

MECO IV – Permian Basin Opportunity

• Diversified Permian assets which provide meaningful exposure to both conventional (Central Basin Platform) and unconventional (Delaware) opportunities
• ~13,000 net acres (100% HBP) including minerals and valuable surface positions overlapping operations with supportive infrastructure in place
• Substantial net cash flow ($27MM NTM) from operated, non-operated, royalty, surface, and income-generating infrastructure assets with $104MM PDP PV10
• Thorough subsurface analysis supporting significant low-risk upside potential across each asset class
• Bids due December 15, 2021

Private Seller – Delaware Basin Mineral Classified Opportunity

  • 618 net royalty acres and 618 surface acres including revenue generating surface assets
  • Anticipated lease bonus from 286 open NMA with the ability to negotiate lease terms with operator
  • High-interest position (~7.6% avg. royalty interest) inclusive of 2 hz PDP wells generating a PV8 of $2MM
  • 16 highly economic undeveloped locations across multiple targets ($34MM PV10)
  • Pending

Private Seller – Premier Oil-Weighted Operated Opportunity

• 235 active wells in Wyoming, Texas, and New Mexico (168 producing and 67 SWD/injectors)
• Oil-weighted production base with 685 Boed (73% oil) and 2.7 MMBoe of net reserves
• High-margin production (~$28/Boe) with significant forecast NTM net cash flow of $6.6MM and ~$29MM PV10 (PDP-only)
• Behind-pipe, horizontal development, and waterflood expansion provide substantial upside beyond producing assets
• Pending

Core Williston Development Opportunity

  • Non-Op Properties:
    • 2,476 net acres in Dunn County (29% WI / 23% NRI)
    • Concentrated footprint underneath active development (RimRock)
    • Stellar on-lease and offsetting well results with strong type curve performance (~1,200-1,500 Boed / 680-850 MBoe across the Bakken/Three Forks)
    • Rimrock recently transitioned to a fully operated position (XOM acreage swap) and picked up an offsetting rig (mid-May 2021)
    • Located on Ft. Berthold Reservation with established infrastructure and regulatory processes in-place
  • Operated Properties
    • 5,879 net acres in McKenzie/Billings Counties (93% WI / 79% NRI)
    • Developmental control with rights across multiple productive horizons
    • Operated SWD system in-place
  • Substantial Production Base – 1,600 Boed / 90% Liquids (Non-Op. & Operated)
    • Oil-weighted production with $16MM NTM op. cash flow (PDP)
    • $55MM PV10 and 4.4 MMBoe net reserves from 62 hz wells (PDP)
    • Avg. 36% WI / 30% NRI
    • 55 non-op. & 7 op. hz wells
  • Highly Economic Inventory
    • 70+ identified development locations across the Bakken and Three Forks
    • Vastly improved well performance from optimized completions, longer laterals and pad development
    • 18 MMBoe | $155MM PV10 (3P)
  • Process Summary:
    • Evaluation materials available via the Virtual Data Room (“VDR”) on Wednesday, June 9th
    • Pending

Chittim Ranch Waterflood Opportunity

  • ~30,000 net acre Chittim Ranch waterflood property (100% WI & 100% HBP)
  • Low-decline, 99% oil, 550 Boed net production with substantial cash flow (~$6MM NTM, PDP only)
  • Operated by a COPC affiliate, providing a well-maintained asset prepared for further improvements
  • Significant workover potential with ~70 wells identified to return low-risk, meaningful production online
  • Pending

DJ Basin Mineral and Royalty Opportunity

  • Meaningful cash flow with imminent growth (~$30MM NTM) | 1,500 Boed (60% Liquids)
  • ~10,270 net royalty acres, in the core of the DJ Basin, being developed almost exclusively utilizing pad development
  • >2,600 highly economic undeveloped locations underneath premier, well-capitalized operators
  • PDP+DUC PV10: $83MM | PDP+DUC Reserves: 5.8 MMBoe
  • Pending

Ridgefield Energy Partners – Delaware Basin Non-Operated and Minerals Opportunity

  • Non-Operated Asset Highlights:
    • ~1,650 net acres in the core of the Southern Delaware Basin
    • ~1,800 Boed net production (PDP PV10 of $48MM)
    • 13 DUCs anticipated online by 1Q2022
    • PDP+DUC NTM cash flow of $18MM
  • Operated Asset Highlights
    • ~1,600 NRA in the core of the Southern Delaware Basin
    • ~265 Boed net production (PDP PV10 of $9MM)
    • 36 DUCs and permits
    • PDP+DUC NTM cash flow of $3.4MM
  • Pending

Peregrine Petroleum – Western Anadarko Basin Opportunity

  • ~35,000 net acres majority-operated leasehold (88% HBP) and ~1,200 net mineral acres
  • ~1,300 Boed net production (PDP PV10 of $30MM)
  • PDP NTM cash flow of ~$10MM
  • Stacked-pay with 110+ highly-economic development locations in the Cherokee, Cleveland, and Oswego formations
  • Pending