We are looking for any PRODUCTION deal for SALE with a range of 2,000-10,000 BOPD/BOEPD. Please call us at 720-883-2467 or send e-mail to email@example.com
Looking to Buy Producing oil & Gas Assets
–Private equity firm looking to buy producing oil/gas assets located in Ok, Tx, Nm, Co, Ks, Wy, Mt, ND.
–Currently have assets producing in excess of 1500 BOED (all from publicly traded sellers)
–Looking to fill portfolio of about 5000+ BOED
–Operated or Non-Operated assets will work
–Operated assets, negotiable as to current operator remaining on field.
–Would like to review assets with daily production rates greater than 200 BOED, and can go as high as 2000+ BOED. Low interest in extensive re-work/re-complete projects. Primary interest is in PDP.
–Basic proposal is to purchase wells, HBP acreage with well and at least 1 PUD per well (depletion issues)
–Additional PUDs and PDNP acreage (negotiable) as to seller retaining those assets and possible JV of some format as to a drilling program and or a lease follow thru, purchasing newly completed wells after some negotiated seasoning of new wells.
–Basic process is (A) review of documents and financial modeling for revenue/noi returns, and phone call or face to face meeting with seller (B) PSA/LOI sent to seller with offering price (subject to normal industry due diligence). (C) PSA/LOI acceptance by seller, buyer will travel to lease for site visit. (D) Site visit acceptable, hard escrow will be opened and final due diligence will be completed closing 30-45 days after opening of hard escrow.
–Buyer is a group of five individuals with over 80 years of oil and gas industry experience to include supervisory positions at Texas Railroad Commission
–Documentation required to complete initial review is (1) Lease Operating Statement, trailing 12 months LOS for the assets being offered for sale (net if, non-op), (2) Reserve Report as current as financially possible, (3) API list with WI/NRI identified, (4) lease area map, (5) asking price for the assets being sold.
–If seller is distressed, very open to negotiations as to a rescue plan to keep owner in place and eliminate possible complications in the future.
–Prefer “off the market” sellers, in that project has not been listed with marketing company.