Detring Energy Advisors

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NEW LISTING:: Kimmeridge - Multi-Basin Mineral & Royalty Opportunity ~16,100 NRA spanning the cores of Midland Basin, Delaware Basin, Powder River Basin, and Eagle Ford activity ~1,200 Boed of regionally diversified production (~75% liquids) 114 near-term locations set to come online in the next-twelve-months, contributing to $26MM NTM cash flow ~2,200 de-risked undeveloped locations, proven by economic offset well results CONTACT: [email protected] BIDS DUE: 08/07/2024

SOLD!! Longreach - Operated Northwest Midland Basin Opportunity.... Congrats to all involved!

SOLD! Congrats to our client, Contango Resources on the sale of their Operated Northwest Shelf Assets to Riley Exploration Permian, Inc.. It was a pleasure working with both top-notch companies. For more information, contact: [email protected]

SOLD! We are very excited for our client, Peregrine Petroleum and the buyer, Roxo Energy! For questions contact: [email protected]

Detring Energy Advisors and PetroDivest Advisors are pleased to provide the attached update on the U.S. A&D Market along with a summary of our most recent Basin Study, with the latter covering ~150,000 horizontal wells across ten major basins. We provide this content (1) to be helpful to our clients as you seek to acquire & divest upstream properties (and understand what third-party data implies about your existing portfolio); and (2) to maintain an evergreen technical foundation on which to provide prompt, accurate valuation models to our clients (and ultimately buyers) en route to value-maximizing outcomes. Our firms are proud to have achieved our highest ever market share in 2023 as we completed 24 transactions totaling ~$1.1 billion against the backdrop of a materially slower market ($6 billion completed inception-to-date). We continue to intentionally maintain a moderate transaction count (~25-35 per year across ~20 team members) in order to provide the time, dedication, and resources necessary to maximize value for each engagement. We aren’t distracted with other verticals such as midstream, energy transition, or even capital raising – all we do is Upstream A&D. The firm was founded in 2014 on this principle – “Quality over Quantity” – and we are proud to carry on this tradition into our first decade anniversary. We hope you enjoy the attached materials, and we are always happy to answer any questions where we can be helpful. Our fulsome basin book covering over 300 pages is also available if you would like to receive a copy. Please reach out any time if we can be helpful with your Acquisition & Divestiture needs, and we look forward to hopefully working with you soon! CONTACT: [email protected]  

NEW LISTING: Private Seller - Permian & Powder River Basin Royalty Opportunity * 2,038 NRA position evenly distributed between the highly active Permian and Powder River Basin * ~$10MM next-twelve-months cash flow generating ~$15MM PDP PV10 * ~150 near-term DUCs and permits anticipated online over the next year * ~800 PUD locations contributing to ~$70MM 3P PV10 BIDS DUE: 05/22/2024 CONTACT: [email protected]

Derek Detring with Detring Energy Advisors will be a keynote speaker at The Mineral & Royalty Conference discussing The Minerals Markets Register Here: https://ow.ly/BvUJ50QY9mQ

NEW LISTING: Allegro Mineral Holdings - Permian Basin Royalty Opportunity ~685 NRA in highly active regions of the Permian Basin (~55% Delaware & 45% Midland) ~100 Boed (75% liq.) of net production and $2.5MM NTM cash flow ~100 near-term locations (DUC & Permit) turned-in-line over the next-twelve-months ~700 highly economic PUD locations contributing to $26MM 3P PV10 BIDS DUE: 04/10/2024 CONTACT: [email protected]