Operated and Non-Operated Working Interest Assets in the SCOOP/Merge/Stack Core and additional regions

Operated and Non-Operated Working Interest Assets in the SCOOP/Merge/Stack Core and additional regions

EXECUTIVE SUMMARY

Eagle River Holdings, LLC has been exclusively retained by Finley Resources (“Seller”) for the divestiture of operated and non-operated working interest assets and associated development rights located in the SCOOP, Merge, STACK and additional regions of the Anadarko Basin in Oklahoma.

PROPERTY DESCRIPTION

Significant Near Term Development Activity

  • ~2,418 MBOE net Reserves under active development (DUC / drilling / permitting)
  • ~450 net BOEPD production (March 2018)
  • Three rigs currently drilling on acreage, 10 DUCs and three additional wells awaiting spud and 19 pooling orders
  • Receive an average of 3 – 5 new drill AFEs per month providing sustainable growth opportunity
  • Legacy leasehold position aggregated in core regions of the Basin with significant recent development activity

Diversified Acreage Position

  • ~11,310 net and ~215,041 gross acres across all asset regions
  • Acreage position throughout all core regions of the SCOOP / STACK with bids considered on any portion of assets
  • Asset regions include: SCOOP, Norman Prospect, Merge, STACK and Ardmore
  • Stacked pay formation targets throughout leasehold yields improved, industry-leading economic returns

Engineered Reserves with Upside

  • ~845 MBOE net PDP Reserves (132 wells) including 8 completed wells to sales in March and April 2018
  • ~1,573 MBOE net DUC / PUD Reserves based on existing drilling proposals, permits and pooling orders (44 wells)
  • Over ~115 MMBOE upside PUD Reserves representative of additional drilling locations not yet proposed (2,435 wells)
  • Unquantified upside associated with horizontal development in the Sycamore, Hunton and Oswego Formations

Development Potential in Multiple Formations

  • Best in class Basin operators include: Continental Resources, EOG Resources, Cimarex, Chaparral, Camino, Newfield
    Exploration, Marathon Oil Company and others
  • Operators show improved technology, well performance, efficiencies in LOE / F&D costs with development funding
  • Future development efficiencies and technology to be realized through infill, multi-well pad and de-risked development

MORE INFORMATION:  https://www.eagleriverholdingsllc.com/property/operated-non-operated-working-interest-assets-scoopmergestack-core-additional-regions/

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