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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
03/01/2018
Data Room Opens
02/12/2018
Bids Due
03/01/2018
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, ~ 14,517 Net Mineral Acres

· Two primary operators

Details

Canyon Lime

  • 12 wells producing, 1 Well Waiting on Completion
  • 4.17% to 4.95% Royalty Interest
  • PDP Production
    • Gross: ~1,000 BOPD; 725 MCFPD*
    • Net: ~ 47 BOPD; 30 MCFPD*

*Gas flared.  Infrastructure currently being completed.

  • PDP Net Cash Flow (Oct ‘17): ~$80,000/m
  • PV5:  $2,336,000

Potential Future Development Upside Value

  • ~50 Proven Undeveloped Locations
  •  ~ 415 Additional Potential HZ Locations
  •  ~$300,000,000 (Potential Future Net Cash Flow)
  • 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
  • Oct ‘17 Production Gross:~95 BOPD; Net: ~5 BOPD
  • PV5 of $694,000
  • Oct ’17 Est. Net Cash Flow: ~$5,500/m