DV

CALIFORNIA DEVELOPMENT

Drilling Prospects

All Standard Disclaimers Apply & Seller Rights Retained


CALIFORNIA DEVELOPMENT

KERN CO., CA PROJECT IN PLAY

20+ PUD Locations. 3,500 Acres

SAN JOAQUIN BASIN.

DYER CREEK & MOUNT POSO

VEDDER FORMATION (15 Degree API)

Fair and Low Operating Costs.

STEAM FLOOD PLANNED.

OPERATOR SEEKS CAPITAL TO EXPAND

NonOperated 50%+ Position Available.

Current Production: 108 BOPD

Profitable Operation. Premium Crude Price.

SEEKS CAPITAL & PARTNER

Possible Budget or Capex: $3.0-$6.0 MM

FLEXIBLE ON TERMS

DV 1128PP

SUMMARY
Energy Advisors Group has been retained by an independent producer seeking development capital for its operated oilfield in Kern Co., California.

As of fall 2019, the asset is producing approximately 103 BOPD (gross) and 40 BOPD (net) of 15° API oil. The property has twenty active producers and no idle wells. The asset has over ten (10) years of production history, and the operator has drilled four (4) discovery wells in the last decade. Lease operating expenses average about $15.50/bbl for the last six months ended August 31, 2019.

There are 22 PUD locations over the 3,500 gross acres under lease with PV10 of ~$2.2 million and net reserves of over 310,000 bbls. The property’s overall PV10, according to the most recent third-party reserve report (May 2019), exceeds $2.7 million. Currently on primary production, the field is an excellent candidate for steamflooding. The operator has made plans to pilot a steamflood and seeks capital to commence this program in mid-2020.

This is a unique opportunity to participate in a low-cost producer's profitable field, with over ten years of continuous production, no idle wells, and material upside available in the form of PUD drilling and steamflooding.

KERN CO., CA DEVELOPMENT PROJECT
20+ Immediate PUD Locations. 3,500 Acres
SAN JOAQUIN BASIN (DYER CREEK & MOUNT POSO)
VEDDER FORMATION (Heavy Crude. ~15° API)
STEAM FLOOD POTENTIAL.
Operator Owns ~36.6% WI; 28.4% NRI
Passive NonOperated Partners Who May Sell Own 63.4% WI
Current Production: 108 BOPD
Last 3-Mn Net Cash Flow: ~$36,300/Mn (Net To Operator)
Operator Has Engineering Report Stating PUD PV10: $2,176,400
PUD Net Reserves: 311,443 Bbls
SELLER FLEXIBLE ON PDP RESERVES
PLS CODE DV 1128PP

Potential Capital Uses Including:

$2,000,000-$3,000,000 For Drilling & Completion
$1,200,000-$1,250,000 For Steam Flood Pilot
<$100,000 Additional Land & Lease Acquisition Work
<$200,000 Potential Lease Workover Projects
$100,000-$250,000; Infrastructure Improvements

TO LEARN MORE
Energy Advisors Group
Mr. David Kessler
Director
5120 Woodway Dr Ste 10010
Houston, TX 77056
USA
Phone: 713-600-0123 Fax: 713-600-0138 Cell: 832-629-8698
Email: [email protected]

Questions Regarding This Asset? Email David Kessler or call EAG at 713-600-0123
Virtual Data Room

KERN CO., CA PROJECT IN PLAY

20+ PUD Locations. 3,500 Acres

SAN JOAQUIN BASIN.

DYER CREEK & MOUNT POSO

VEDDER FORMATION (15 Degree API)

Fair and Low Operating Costs.

STEAM FLOOD PLANNED.

OPERATOR SEEKS CAPITAL TO EXPAND

NonOperated 50%+ Position Available.

Current Production: 108 BOPD

Profitable Operation. Premium Crude Price.

SEEKS CAPITAL & PARTNER

Possible Budget or Capex: $3.0-$6.0 MM

FLEXIBLE ON TERMS

DV 1128PP

SUMMARY
Energy Advisors Group has been retained by an independent producer seeking development capital for its operated oilfield in Kern Co., California.

As of fall 2019, the asset is producing approximately 103 BOPD (gross) and 40 BOPD (net) of 15° API oil. The property has twenty active producers and no idle wells. The asset has over ten (10) years of production history, and the operator has drilled four (4) discovery wells in the last decade. Lease operating expenses average about $15.50/bbl for the last six months ended August 31, 2019.

There are 22 PUD locations over the 3,500 gross acres under lease with PV10 of ~$2.2 million and net reserves of over 310,000 bbls. The property’s overall PV10, according to the most recent third-party reserve report (May 2019), exceeds $2.7 million. Currently on primary production, the field is an excellent candidate for steamflooding. The operator has made plans to pilot a steamflood and seeks capital to commence this program in mid-2020.

This is a unique opportunity to participate in a low-cost producer's profitable field, with over ten years of continuous production, no idle wells, and material upside available in the form of PUD drilling and steamflooding.

KERN CO., CA DEVELOPMENT PROJECT
20+ Immediate PUD Locations. 3,500 Acres
SAN JOAQUIN BASIN (DYER CREEK & MOUNT POSO)
VEDDER FORMATION (Heavy Crude. ~15° API)
STEAM FLOOD POTENTIAL.
Operator Owns ~36.6% WI; 28.4% NRI
Passive NonOperated Partners Who May Sell Own 63.4% WI
Current Production: 108 BOPD
Last 3-Mn Net Cash Flow: ~$36,300/Mn (Net To Operator)
Operator Has Engineering Report Stating PUD PV10: $2,176,400
PUD Net Reserves: 311,443 Bbls
SELLER FLEXIBLE ON PDP RESERVES
PLS CODE DV 1128PP

Potential Capital Uses Including:

$2,000,000-$3,000,000 For Drilling & Completion
$1,200,000-$1,250,000 For Steam Flood Pilot
<$100,000 Additional Land & Lease Acquisition Work
<$200,000 Potential Lease Workover Projects
$100,000-$250,000; Infrastructure Improvements

TO LEARN MORE
Energy Advisors Group
Mr. David Kessler
Director
5120 Woodway Dr Ste 10010
Houston, TX 77056
USA
Phone: 713-600-0123 Fax: 713-600-0138 Cell: 832-629-8698
Email: [email protected]

Questions Regarding This Asset? Email David Kessler or call EAG at 713-600-0123