Eagle River Energy Advisors, LLC’s Post

Congrats to the NOG - Northern Oil & Gas, Inc. (NYSE: NOG) team on their latest splash in the NonOp space! SM Energy Company with NOG as its non-op partner, recently announced that they are purchasing the Uinta Basin assets of XCL Resources (an EnCap PortCo) for a combined unadjusted purchase price of $2.55 billion in cash. NOG will be acquiring an undivided 20% stake in the XCL Assets for $510.0 million in cash. The current production is >10,500 Boed (2-stream, excluding NGLs, >85% oil) across ~9,300 net acres, located primarily in Duchesne and Uintah Counties, Utah. The next 12 months unhedged cash flow from operations, post-closing (assuming 10/1/24 start date) is expected to be >$170 million, based on recent strip prices, representing a transaction multiple of <3.0x.

Check out our latest investor presentation spotlighting our strategic acquisition of granted Northern Territory acreage. With multiple independent onshore basin exploration areas and a diverse range of target end products, we're strategically positioned for growth and success.   View the full presentation here https://bit.ly/3J9liY6   #TopEndEnergy #InvestmentOpportunity #NorthernTerritory #EnergySector 

The oil-rich Permian Basin is in the news. Viper Energy, a subsidiary of Diamondback Energy, is expanding its footprint in this energy-rich region with a $1 billion deal. In partnership with Warwick Capital Partners and GRP Energy, Viper Energy is set to acquire significant acreage and assets. This move will bring an additional 4,600 royalty acres in the Permian Basin, as well as 2,700 acres in other U.S. oil and gas regions. With 21 operational drilling rigs, this expansion promises substantial growth. Read more at https://hubs.li/Q021lKVC0 #oilandgas #energyindependence #permianbasin #oilproduction

NEW LISTING: Eagle River Energy Advisors, LLC has been exclusively retained by SOGC, Inc. (formerly Sinclair Oil & Gas Company) to divest certain operated working interest and assets in the Arkoma Basin. The assets provide the opportunity to acquire a gas-weighted production stream of 515 Mcfe/d. Additionally, this package has stable with a shallow forecast decline of ~7% and a NTM Cash Flow of $173,000. Lastly, 2,246 net acres of leasehold provides significant exposure to future development of the Woodford Shale. SOGC, Inc. (formerly Sinclair Oil & Gas Company) is a privately held, vertically integrated oil company involved in all aspects of the oil and gas industry, from exploration to marketing. Founded in 1916 by Harry F. Sinclair, Sinclair Oil & Gas Company is one of the oldest continuous brands in the oil business, with their dinosaur being one of the most recognized icons in the United States. Bids for the Acquisition Opportunities with SOGC, Inc. referenced in this press release are due August 21, 2024. Contact the Eagle River Energy Advisors, LLC team to learn more. #OilandGas #ArkomaBasin #Oklahoma

Another large acquisition in the oil and gas sector. Devon Energy has purchased Grayson Mill Energy. This follows the trend of companies strategically consolidating to position themselves for future growth. Since the beginning of 2023, there has been over $300 billion in M&A deals in the US. Q1 2024 saw ~$50 billion in deals. #oilandgascompanies #mergersandacquisitions #willistonbasin #bakken #graysonmillenrgy #devonenergy #oilandgas #upstream #oilandgasacquisitions

My post today for Steve Reese and Reese Energy Consulting. Fresh Powder Makes a Big Difference for Western Following Oxy's acquisition of Anadarko Petroleum Corporation, Western Midstream became a standalone business in 2019 with Oxy becoming its general partner. The parent-child relationship has proven fortuitous for both, particularly in their shared basins of the #Permian, #Delaware, #DJ, and the #PowderRiver where Oxy operates more than 300,000 net acres. Reese Energy Consulting today is following the latest news from The Woodlands, Texas-based Western Midstream, which operates 14,172 miles of pipeline to include 7 natural gas and 14 crude oil and NGLs pipelines, 23 gathering systems, and 71 processing and treating facilities in the Permian, DJ, South Texas, Utah, Pa., and Wyo. The company has now announced it will acquire Denver-based Meritage Midstream and its Powder River assets for $885 million. Highlights of the all-cash deal include 1,500 miles of gas gathering pipe, 380 MMCFD of processing capacity, and the 120-mile Thunder Creek NGL pipeline with a capacity of 38 MBPD. According to the Meritage website, the company also offers crude oil and condensate gathering, treating, blending, storage, and transportation but no word on whether these assets were part of the Western transaction. In any event, Western hails the PBR addition “transformative,” adding significant producer inventory, long-term contracts, and acreage dedications across 1.4 million acres, while increasing its total gas processing capacity to 440 MMCFD. What do you think? Learn more about REC and our natural gas, NGLs, crude oil, and midstream services at https://lnkd.in/eAebAz8.

TRP Energy ranks #58 in wells drilled in 2022 with 40 wells drilled in the Mid Continent of the US. The Mid Continent region includes Texas, Oklahoma, New Mexico and Louisiana. TRP Energy is exploring a possible sale of its oil and gas operations in the Permian basin that could fetch more than $1.5-billion, the latest company to do so at a time of high demand for acreage in the heart of U.S. shale country, people familiar with the matter said. https://lnkd.in/g3sEgKYu

"US oil company Devon Energy has announced a definitive agreement to acquire the Williston Basin business from Grayson Mill Energy in a cash and stock deal valued at $5bn. Devon intends to finance the acquisition through $3.25bn in cash and by issuing 37 million shares of common stock valued at $1.75bn. This move will bolster Devon's presence in the Williston Basin, adding 307,000 net acres with a 70% working interest. The assets being acquired are projected to maintain a production level of around 100,000 barrels of oil equivalent per day (boepd), with 55% being oil, in 2025. Devon anticipates this addition will contribute to an average of up to $50m in annual cash flow savings, driven by operational efficiencies and marketing synergies." #finance #equipmentfinance #equipmentleasing #financialservices #corporatefinance #devonenergy #mergersandacquisitions #oilandgas https://lnkd.in/gFt7dD5A

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Reunited and It Feels So Good for TXO Energy New basin entries by oil and gas producers seem to be having a moment right now. Stories always compelling to explore—especially if their core assets happen to lie primarily in the almighty Permian or aren’t the result of an acquisition inheritance. Reese Energy Consulting today is following the latest leap outside the Perm by Midland and Delaware players betting more than a buck or two on fresh territory and inventory to expand their portfolios. We shared last week Denver-based SM Energy Company’s $2.55 billion deal with XCL Resources and a welcome howdy into the Uinta Basin that came as somewhat of a surprise for most folks. Now, Fort Worth-based TXO Partners, which operates a combined 371,000 net acres in the Texas and N.M., Permian and San Juan, has hopscotched into the Williston with two acquisitions valued at $300 million. But it’s not exactly their first rodeo there. The company, which went public last year, is led by CEO Bob Simpson—shale veteran and former CEO of XTO Energy who built a Bakken powerhouse before selling to Exxon back in 2010 for $41 billion and finding a comfortable nest in the nation’s most prolific basin. Still, an old friend has a way of wooing one back.   Simpson’s return to the Williston with TXO includes acquisitions of Eagle Mountain Energy Partners and an undisclosed seller with assets in N.D., and Montana. They add 4.5 MBOED in production and proved developed reserves of 17 MMBOE. TXO in 1Q announced sales volumes of 22 MBOED. Some past romances are hard to forget. What do you think? Learn more about REC and our oil and gas consulting services in the Permian and Williston at https://lnkd.in/ewhkGFa and our natural gas online training courses at https://lnkd.in/ggd3UkJM.