leasehold acreage package…2019/11/07 · boe/d 6:1 months woodford well performance by operator...

COMPREHENSIVE A&D SERVICES FOR THE OIL & GAS INDUSTRYWWW.OGCLEARINGHOUSE.COM

Leasehold Acreage PackageMultiple Counties, Oklahoma

Bids Due December 5, 2019

Private SalePro Mineral Summary

Summary

The Oil and Gas Asset Clearinghouse, LLC is partnering with Pro Mineral to market a package that includes 1,532.76 net mineral acres (NMA) located in McClain, Okmulgee, Okfuskee, McIntosh, Custer, & Garvin County, Oklahoma.

Asset Highlights

• Leasehold acreage in Oklahoma• Increased economics year-over-year due to multi-

well pad drilling• Offset drilling activity in Springer, Meremec, &

Woodford formations• Year-over-year well performance increases in

Woodford type curves• $6,000/acre 2019 pooling activity• Bids accepted on individual groups or entire acreage

McClain County, OK 142.35 NMA/76.0% NRI

Arkoma Basin, OK 1,093.64 NMA/80.0% NRI

Custer County, OK 187.76 NMA/77.5% NRI

Garvin County, OK 109.01 NMA/80.0% NRI

McClain County Asset Highlights

Source: Enverus

McClain County Summary

Summary

• 142.35 net mineral acres & 76.0% NRI• $6,000/acre pooling last 6-month average for

McClain County • 425 boe/d (87% oil) avg. Woodford well IP24• Direct offset operators include Buffalo Creek, Roan

Resources, Encana, Casillas, etc.• Offset leasing activity by EOG, MK&P Energy, Redsky

Land, etc.• Strong offset Woodford well results by EOG,

Continental, Limerock, Newfield, & Casillas• Kayne Anderson private equity activity direct offset

to leasehold

Private Sale

Marketed Acreage


Pro Mineral

Source: Enverus

Operator Presence in the VicinityRimrock Resource’s Malopolski 1-36-01UWH well achieved an average IP24 of 3.34 MMCFE/d in Apr-2018

McMahan 0112 1H; 9-Nov-2018EOG ResourcesWoodfordIP24: 435 BOE/d (93% oil)Lateral length: 7,107 feet

Leflore 1015 1H; 3-Jul-2018EOG ResourcesWoodfordIP24: 538 BOE/d (94% oil)Lateral length: 10,060 feet

Zima 1-15MH; 26-Jul-2018Casillas PetroleumDev-MissIP24: 436 BOE/d (93% oil)Lateral length: 4,724 feet

McMahan 0211 1H; 10-Nov-2018EOG ResourcesWoodfordIP24: 342 BOE/d (96% oil)Lateral length: 10,069 feet

Boechat 6N 2W 5 1HX; 27-Jul-2018Lime RockWoodfordIP24: 322 BOE/d (82% oil)Lateral length: 9,375 feet

Stark 6N 2W 11 1H; 22-Nov-2018Lime RockWoodfordIP24: 325 BOE/d (66% oil)Lateral length: 4,263 feet

Buffalo Creek

Titanium Exploration

Camino Natural

Marathon Oil

Daylight Petroleum

Native Exploration

Casillas Petroleum

Panhandle O&G

EnCana

Roan Resources

Footnotes: Wells within a 15-mile radius tested post Jan-2018

England 1-12H; 12-Nov-2018Red Rocks Oil & GasWoodfordIP24: 553 BOE/d (87% oil)Lateral length: 4,601 feet

Brandt 6N 2W 17 1HX; 30-Oct-2018Lime RockWoodfordIP24: 448 BOE/d (86% oil)Lateral length: 10,174 feet

Malopolski 1-36-01UWH; 20-Apr-2018Rimrock Resource OperatingWoodfordIP24: 3.34 MMCFE/d (96% gas)Lateral length: 7,321 feet

Norton 6N 2W 36 1HX; 30-Jun-2018Lime RockWoodfordIP24: 434 BOE/d (91% oil)Lateral length: 9,947 feet

Pro Mineral

Source: Enverus

Private Equity Presence in the Vicinity

CPPIB

Lime Rock Partners

EnCap

NGP

Fortress Investments

Pearl Energy

Kayne Anderson

Post Oak

1

2

3

4

QuadTwo

Trilantic Capital and others

LongPoint Minerals LLCFunded by Canada Pension Plan Investment Board through multiple rounds during Jun-2016 to Apr-2017Commitment ($): $836 millionBrief: Assets in Anadarko and Permian basins

1

TRP Energy LLCFunded by Trilantic Capital Partners and others in May-2015Commitment ($): $250 millionBrief: Assets in Anadarko and Permian Midland basins

2

Castell Oil CoFunded by NGP Energy Capital Management in 2017Commitment ($): $150 millionBrief: Focused in Midcontinent, Permian, and Rockies

3

Native Exploration Holdings LLCFunded by Kayne Anderson in Jul-2017Commitment ($): $140 millionBrief: Acreage primarily in McClain Co., Blaine Co., Canadian Co., and Grady Co., OK

4

https://app.drillinginfo.com/ma/dyn/pe/pebacked/details?recordId=546




Pro Mineral

Source: Enverus

Developmental Activity in the VicinityContinental Resources is running a 7-rig program roughly 13 miles west of the marketed acreage

Footnotes: [1] Leasing heatmap during the last 3 months; Landtrac leases and Permits filed during the last 3 months within a 15-mile radius of the marketed acreage

[2] Includes leases acquired within a 15-mile radius of the marketed acreage

[1]

[2]

0

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1000

Q4-2018 Q1-2019 Q2-2019 Q3-2019

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ases

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Marketed Acreage

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Woodford Well Performance by Operator

Pro Mineral

Source: Enverus

Type CurvesWoodford Well Performance by Operator

Footnotes: Wells spud after Jan-2015 within a 15-mile radius of the marketed acreage

Operator

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1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49

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Woodford Well Performance by Year

Pro Mineral

Source: Enverus

Vintage Type CurvesWoodford Well Performance by Year

Woodford YOY IP30 Growth%

2015

2016

2017

2018

149%

39%

-41%

2019 51%


Arkoma Basin Asset Highlights

Source: Enverus

Arkoma Basin Summary

Summary

• 1,093.63 net mineral acres & 80.0% NRI• 1-5MMCFD offset Woodford well results in 2018• Offset private equity activity in EnCap, NGP, Old

Ironsides, etc.• ~200 leases in 15-mile radius in 3Q2019• Recent strong Woodford well performance results

with Trinity Operating• Consistent year-over-year Woodford well

performance increases in 15-mile radius


Private Sale

Marketed Acreage

Pro Mineral

Source: Enverus

Operator Presence in the VicinityTrinity Operating’s Lytle (Shutt 1-15H) 1-15/10H well achieved an average IP24 of 5.7 MMCFE/d in Oct-2018

Jefferson 1-29-32WH; 27-Jan-2018Calyx Energy IIIWoodfordIP24: 1.13 MMCFE/d (99% Gas)Lateral length: 7,349 feet

Jefferson 2-20-17CH; 15-Jan-2018Calyx Energy IIIMississippianIP24: 1.19 MMCFE/d (98% Gas)Lateral length: 9,317 feet

Grant 2-2-35WH; 13-Mar-2018Calyx Energy IIIWoodfordIP24: 1.23 MMCFE/d (100% Gas)Lateral length: 8,810 feet

Antioch Energy

Panhandle O&G

BP

Corterra Energy

Calyx Energy III

Council Oak

Bravo Arkoma

Grizzly Operating

Canaan Resources

Nextera Energy


Grant 1-2-35WH; 13-Mar-2018Calyx Energy IIIWoodfordIP24: 1.23 MMCFE/d (100% Gas)Lateral length: 8,312 feet

Lytle (Shutt 1-15H) 1-15/10H; 29-Oct-2018Trinity OperatingWoodfordIP24: 5.7 MMCFE/d (100% Gas)Lateral length: 10,186 feet

Pro Mineral

Source: Enverus


EnCapOld Ironsides

Fortress InvestmentOutfitter Energy

GE Energy Financials ServicesPost OakNGP

Quantum Energy Partners

Tanos Exploration II LLCFunded by Quantum Energy Partners during Oct-2013 and May-2016Commitment ($): $500 millionBrief: Acquired Arkoma assets from Fidelity Exploration & Production Co

1

Saxet II Minerals LLCFunded by Post Oak Energy Capital LP in Jan-2017Commitment ($): $100 millionBrief: Focused on acquiring mineral and royalty interests

2

Bravo Natural Resources LLCFunded by NGP Energy Capital Management in Dec-2013Commitment ($): $200 millionBrief: Acquired acreage in Arkoma basin through minor acquisitions and leasing

3

Council Oak ResourcesFunded by EnCap Investments in 2015Commitment ($): $300 millionBrief: Holds ~52,000 net acres in Arkoma basin

4

1

2

3

4

White Deer Energy





Pro Mineral

Source: Enverus

Developmental Activity in the VicinityMarketed Acreage lies in a concentrated leasing location

Footnotes: [1] Leasing heatmap during the last 3 months;Landtrac leases acquired within a 15-mile radius of the marketed acreage during the last 3 months

[2] Includes leases acquired within a 15-mile radius of the marketed acreage

200

400

600

800

1,000

Q4-2018 Q1-2019 Q2-2019 Q3-2019

Num

ber

of Le

ases

Instrument Date

Number of Leases with Time

[1]

[2]

Marketed Acreage

Pro Mineral

Source: Enverus



Operator

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Pro Mineral

Source: Enverus


Footnotes: Wells spud within a 15-mile radius of the marketed acreage


2017

2018 52%

2019 7%

0

100

200

300

400

500

600

700

800

1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 55 58

BOE/

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Custer County Asset Highlights

Source: Enverus

Summary

Custer County Summary

• 187.76 net mineral acres & 77.5% NRI• 17.7 MMCF/d average Woodford IP24• 7-10,000’ laterals• Increased leasing activity from 4Q2018 to 3Q2019 of ~4x• >$1 billion committed to offset private equity backed

operators in 2017• Heavy offset acreage position by Continental


Private Sale

Marketed Acreage

Pro Mineral

Source: Enverus

Operator Presence in the VicinityContinental Resources’ Heckenberg 2-30-19XH well achieved an average IP24 of 32.82 MMCFE/d in Aug-2018

Eyster 1-3-10-15XH; 23-Feb-2018Continental ResourcesMississippianIP24: 11.93 MMCFE/d (98% gas)Lateral length: 7,900 feet

Ebeling 1-16-9XH; 8-Feb-2018Continental ResourcesMississippianIP24: 11.74 MMCFE/d (100% gas)Lateral length: 9,607 feet

Gripe Fiu 1-30-31XH; 11-Jan-2018Continental ResourcesDev-MissIP24: 15.95 MMCFE/d (100% gas)Lateral length: 9,984 feet

Spanish Castle Magic 1HX-0916; 18-Nov-2018MEP OperatingMississippianIP24: 22.26 MMCFE/d (100% gas)Lateral length: 8,133 feet

Dagonet 1-18-19XH; 30-Oct-2018ExcaliburWoodfordIP24: 11.6 MMCFE/d (100% gas)Lateral length: 7,635 feet

Heckenberg 2-30-19XH; 20-Aug-2018Continental ResourcesMississippianIP24: 32.82 MMCFE/d (100% gas)Lateral length: 9,963 feet

Chesapeake

FourPoint Energy

Cimarex

LongPoint Minerals

Continental

Marathon Oil

Devon

Panhandle O&G

Fairway Resources

Teton Range


Pro Mineral

Source: Enverus


CPPIB

Pearl Energy

Denham Capital

QuadTwo Capital

Kayne Anderson

Riverstone

Morgan Stanley

Blackstone, Quantum, EIG and others

1

2

3

4

Citizen Energy II LLCFunded by QuadTwo Capital PartnersCommitment ($): $109 millionBrief: Focused on the SCOOP/STACK play in Oklahoma

4

Teton Range LLCFunded by Riverstone during Mar-2017 and Jul-2017Commitment ($): $419 millionBrief: 13,600+ net non-operated STACK acres

3

LongPoint Minerals LLCFunded by Canada Pension Plan Investment Board during Jun-2016 to Apr-2017Commitment ($): $836 millionBrief: Mineral and Royalty assets in Anadarko and Permian basins

2

FourPoint Energy LLCFunded by Blackstone, Quantum, EIG and others through multiple rounds duringJan-2014 to Dec-2017Commitment ($): $2.137 billionBrief: 2+ million gross acres and 190 MBOE/d gross production in Western Anadarko basin

1





Pro Mineral

Source: Enverus

Developmental Activity in the VicinityMarketed acreage is in a concentrated leasing location

Footnotes: [1] Leasing heatmap, Landtrac leases and Permits approved during the last 3 months[2] Includes leases acquired within a 15-mile radius of the marketed acreage

0

30

60

90

120

Q4-2018 Q1-2019 Q2-2019 Q3-2019

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of Le

ases

Instrument Date

Number of Leases with Time

[1]

[2]

Marketed Acreage

Pro Mineral

Source: Enverus



Operator

0

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:1

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Pro Mineral

Source: Enverus


Footnotes: Wells spud within a 15-mile radius of the marketed acreage


2015

2016

2017

2018

134%

2%

2%

Garvin County Asset Highlights

Source: Enverus


Private SaleGarvin County Summary

Summary

• 109.01 net mineral acres & 80.0% NRI• Strong gas production results in offset

Woodford production >11MMCFD for IP24• Strong oil production results in Springer,

500-1,500 boepd• Steady leasing activity from 4Q2018 to

3Q2019 • Strong Woodford average well results by

Continental, Newfield, & Rimrock Resources

• Post Oak & Fortress private equity activity in offset acreage

• Steady increase in Woodford well performance since 2017

Marketed Acreage

Source: Enverus

Casillas Petroleum

Marathon Oil

Continental Resources

Panhandle O&G

Cornerstone Petroleum

Red Rock O&G

Daylight Petroleum

Rimrock Resource

EnCana

Titanium Expl Partners

Percheron 1-15UWH; 25-Jan-2018Rimrock ResourceWoodfordIP24: 10.57 MMCFE/d (52% gas)Lateral length: 4,845 feet

Omer 6-20-17XHS; 3-Jul-2018Continental ResourcesSpringerIP24: 1,594 BOE/d (84% oil)Lateral length: 8,036 feet

Omer 2-20-17XHS; 28-Jun-2018Continental ResourcesSpringerIP24: 1,219 BOE/d (84% oil)Lateral length: 8,103 feet

Cudd 1-9H; 1-Dec-2018Red Rocks Oil & GasWoodfordIP24: 3.58 MMCFE/d (96% gas)Lateral length: 4,902 feet

Kay 1-22H; 10-Jan-2018Red Rocks Oil & GasWoodfordIP24: 554 BOE/d (82% oil)Lateral length: 5,138 feet

Adams 1-22X15H; 23-May-2018Red Rocks Oil & GasWoodfordIP24: 4.11 MMCFE/d (68% oil)Lateral length: 9,826 feet

Operator Presence in the VicinityContinental Resources’ Dicksion W2-21H well achieved an average IP24 rate of 11.28 MMCFE/d in Mar-2018

Omer 3-20-29XHS; 26-Jun-2018Continental ResourcesSpringerIP24: 893 BOE/d (83% oil)Lateral length: 7,159 feet

Dicksion W2-21H; 12-Mar-2018Continental ResourcesWoodfordIP24: 11.28 MMCFE/d (61% gas)Lateral length: 4,836 feet

Ferguson 3H-14X; 4-Feb-2018Newfield ExplorationWoodfordIP24: 1,322 BOE/d (51% oil)Lateral length: 7,413 feet

Ferguson 0304 1-24WH; 4-Mar-2019Marathon OilWoodfordIP24: 1,159 BOE/d (52% oil)Lateral length: 4,770 feet


Pro Mineral

Source: Enverus


1

2Cornerstone Petroleum Op LLCBacked by Post Oak Energy Capital in 2013Commitment ($): $100 millionBrief: Holds assets in Midcontinent and Gulf Coast

2

Pro Mineral

CPPIB

NGP

Denham

Pearl Energy

EnCap

Post Oak

Fortress Investment

River Ranch and Hiawatha Companies

Kayne Anderson

Stellus Capital

LongPoint Minerals LLCFunded by Canada Pension Plan Investment Board during Jun-2016 to Apr-2017Commitment ($): $836 millionBrief: Mineral and Royalty assets in Anadarko and Permian basins

1



Source: Enverus

Developmental Activity in the VicinityNewfield Exploration is operating a 3-rig program 15 miles west of the marketed acreage

Footnotes: [1] Drilling Permit heatmap for the last 3 months;Permits approved within a 20-mile radius of the marketed assets during the last 3 months

[2] Permits approved within a 20-mile radius of the marketed assets

Marketed Acreage

[1]

[2]

Pro Mineral

0

300

600

900

Q4-2018 Q1-2019 Q2-2019 Q3-2019 Q4-2019

Num

ber

of Le

ases

Instrument Date

Leasing with Time

Source: Enverus


Operator Casillas Operating Marathon OilContinental Rimrock ResourceNewfield Exploration

Footnotes: Wells spud after Jan-2015 within a 20-mile radius of the marketed assets

Pro Mineral

0

400

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BOE/

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Source: Enverus



2016

2017

2018

-9%

71%

2019 4%

Footnotes: Wells spud after Jan-2015 within a 20-mile radius of the marketed assets

Pro Mineral

0

400

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1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 55 58

BOE/

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Months


Su M T W Th F Sa

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3 4 5 6 7 8 9

10 11 12 13 14 15 16

17 18 19 20 21 22 23

24 25 26 27 28 29 30

November

Su M T W Th F Sa

1 2 3 4 5 6 7

8 9 10 11 12 13 14

15 16 17 18 19 20 21

22 23 24 25 26 27 28

29 30 31

December

EDR Open

Bids Due

Sale Process

• Electronic Data Room Available November 7, 2019

• Bids Due December 5, 2019

• Bid instructions available in EDR. Please specify which

group if bidding on individual group.

For additional questions or information, please contact our team:

Oil & Gas Asset ClearinghousePhone: (281) 873-4600

Email: [email protected]

The Pro Mineral, LLC. (“Company”) is selling certain leasehold assets in multiple Counties, Oklahoma. Oil & Gas Asset Clearinghouse, LLC (“Clearinghouse”) is the exclusive technical, marketing, and transaction advisor for this sale. The Company and Clearinghouse make no representations or warranties, either express or implied, as to the accuracy or completeness of this information or its suitability for any purpose. The sales process contemplated herein is not exclusive. The Company and Clearinghouse reserve the right to withdraw all or any portion of the assets or change all or any terms of this sales process at any time without notice to any potential purchaser.

Thomas EdwardsBusiness Development [email protected]

(626) 437-2869

Matt DaPraManager-Business Development [email protected]

(713) 277-7923

Matt StowersTransaction Manager

[email protected](832-601-7657

mailto:[email protected]



leasehold acreage package…2019/11/07 · boe/d 6:1 months woodford well performance by operator...

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