Current Engagements

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

Melinda Faust, Managing Director

mel@detring.com
(713) 595-1004

Permian and Eagle Ford Minerals Opportunity

  • Pending

Central Basin Platform WI & Royalty Opportunity

  • Robust Operating Cash Flow and Production ($12.4MM NTM PDP | 2.1 MBoed)
  • Large, contiguous and operated position with ~14,000 net acres ( 100% HBP / 100% WI)
  • PDP PV10 and reserves of $51MM and 5.0 MMboe, respectively
  • Large inventory of PUD and PDNP opportunities in addition to a pre-scoped waterflood project
  • Assets offered in two sub-packages: Working Interest and Royalties
  • Bids due December 9, 2020

Horizontal Marcellus Wellbore Opportunity

  • Assets offered in two sub-packages: non-operated working interest and minerals/royalties
  • Substantial total net production (27 MMcfd) & cash flow ($17MM NTM)
  • Total net reserves of 126 Bcf (100% Gas) and net PV10 of $80MM (83% WI / 17% Roy-ORRI)
  • High margin cash flow with ~$2.00/Mcf netback
  • Core PennEnergy asset maintains operational focus
  • Bids due January 6, 2021

Gulf of Mexico Opportunity

  • Robust Cash Flow ($25MM NTM EBITDA) and Production (4.8 MBoed | ~75% oil)
  • Operated asset with control of development and production infrastructure
  • Prolific, stacked Pliocene and Miocene reservoirs with 8 undeveloped opportunities (4 PUD)
  • Large, high quality spec 3D seismic data available for review on site
  • Four diverse fields provide material scale and a platform for growth within the Gulf of Mexico
  • Bids due January 13, 2021

Warrior North Utica Shale Opportunity

  • 40 operated (avg. 75% WI) and 7 non-op PDP wells (avg. 5% WI)
    • An owner in 19 PDP wells (avg. 52% WI) maintains “Tag-Along Right” that will require a buyer to make an offer for the 8/8ths interests, while being prepared to purchase only the interests of PennEnergy
  • 26 MMcfed production (8/8ths)
    • 18 MMcfed net to PennEnergy
    • 8MMcfed net to “Tag-Along Right”
  • $10.7MM NTM Cash Flow (8/8ths)
  • $42MM PDP PV-10% (8/8ths)
  • ~13,400 Net Acres – 98% HBP | 99% Operated
  • Contiguous position accommodating long-lateral development
    • Consistent high-quality reservoir in the core of the Point Pleasant thickness trend
  • Bids due February 17th, 2021

Central Basin Platform Opportunity

  • Substantial oil-weighted net production of ~1.6 MBoed
  • Next-twelve-months cash flow of $17MM underpins future development
  • Currently operated by Boyd & McWilliams, with ability for the buyer to assume operations
  • Highly concentrated position of ~11,400 net acres
  • 59 highly-economic undeveloped locations to be developed
  • Bid due May 5, 2021

Powder River Basin Conventional Oil Opportunity

  • Long-Life Oil Production (616 net bopd | 7% annual decline)
  • Fully-Operated Oil Assets (~10,000 net acres | 100% HBP)
  • Net operating cash flow of ~$7MM (next 12 months)
  • PDP PV10 and net reserves of $40MM and 3.8MMBbl, respectively
  • Additional uplift opportunities through waterflood installation, facility upsizing, and undeveloped vertical infill locations
  • Bids due May 5, 2021

Birch Operations – Midland Basin Production Acquisition Opportunity

  • Robust Operating Cash Flow ($5MM NTM PDP) and Production (975 Boed | 85% Liquids)
  • Resilient cash flow stream ensured by low operating expenses and healthy margins
  • ~$16.21/Boe operating cash margin
  • PV10 of $19MM
  • Net reserves of 3.2 MMboe
  • High ownership interest and operational control
  • Average Working Interest: 98% | Average Lease Net Revenue Interest: 77%
  • 89 PDP wells
  • This is a wellbore-only package
  • Bids due Wednesday, June 9th

NP Resources – Williston Basin Acquisition Opportunity

  • ~100,000 Net Acre Position (~85% Held By Production)
  • Large, operated and contiguous position provides developmental control with rights across multiple productive horizons
  • High Margin, Stable Production (~1,200 Boed | 10% Annual Decline)
  • ~$14MM NTM cash flow (PDP)
  • ~$60MM PV10 and 4.9 MMBoe net reserves from 68 horizontal & 12 vertical producing wells (PDP)
  • 400+ Three Forks/Pronghorn Locations For Development
  • Engineered completion methods generate attractive economics (45%+ IRR) while utilizing more efficient completions (1,000+ Boed IP24; 940 MBoe EUR)
  • Net PV10 and reserves of ~$460MM and ~150 MMBoe, respectively (3P)
  • Development program lives within cash flow, requiring no additional investment
  • 58 locations ready for near-term development including permits or pending permits
  • NPR has completed a robust geologic study of the region, identifying high graded areas of the position, as well as conventional opportunities across the area
  • Bids due June 9, 2021

Culberson County Mineral & Royalty Opportunity

  • 1,480 NRA concentrated in 4 high-interest royalty units (avg. 3.4% RI)
  • Imminent near-term growth with 8 Cimarex permits in-hand ($5MM NTM net cash flow)
  • 100% operated by Cimarex and central to planned Culberson County development
  • PDP + Permit PV10: $16MM ($74MM 3P PV10)
  • Bids due June 22, 2021

Midland Basin Mineral & Royalty Opportunity

  • Robust cash flow with imminent growth (~$7MM 2022E)
  • 2,980 net royalty acres (~100% minerals) offering statistical exposure to the Midland Basin
  • ~4,800 highly economic undeveloped location across 6 Wolfcamp and Spraberry horizons
  • 3P PV10: $90MM ($330MM PV0)
  • Bids due July 14, 2021

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
    • Bids due July 21, 2021

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
  • Bids due July 28, 2021