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Historic Texas Family Mineral Interest Sale

Potter & Carson Co. TX Producing Minerals ~15,000 Net Mineral Acres

Effective date of the transaction
07/01/2016
Data Room Opens
08/18/2016
Bids Due
09/15/2016
Closing Date
Virtual Data Room

Description

Texas Panhandle Mineral Interest

Potter & Carson County, Texas

Seller: Historic Texas Family (Disclosed after CA)

~ 77,000 Gross Acres, ~ 15,000 Net Mineral Acres

 

Details

Texas Panhandle Mineral Interest

Potter & Carson County, Texas

 

  • Seller: Historic Texas Family (Disclosed after CA)
  • ~ 77,000 Gross Acres, ~ 15,000 Net Mineral Acre
  • Two primary operators

Canyon Lime

  • 6 wells producing
    • 4.17% to 4.95% Royalty Interest
    • Current PDP Net Cash Flow (July ‘16): ~$30,000/m
    • PV5:  $1,095,130
  • Potential Future Development Upside Value
    • ~470 Potential HZ Locations Identified (@ 4 Wells / Sec.)
    • ~$470,000,000 (Potential Future Net Cash Flow)
    • Lessor has agreed to certain drilling obligations on the leasehold.
  • 3D Seismic has been shot over the majority of the acreage to help high-grade locations and optimize performance of future drilling.

ERT Field (Pennsylvanian)

  • 4.505417% Royalty Interest
  • July ‘16 Net Production:  ~5 BOPD
  • PV5 of $1,217,660
  • July ‘16 Est. Cash Flow: ~$7,000/m