Operated & Non-Operated Working Interest Assets in the Green River Basin

Operated & Non-Operated Working Interest Assets in the Green River Basin

EXECUTIVE SUMMARY

Eagle River Holdings, LLC has been exclusively retained by Vanguard Natural Resources, Inc. (“Seller”) for the divestiture of operated and non-operated working interest assets and associated development rights located in the Green River Basin of Carbon and Sweetwater Counties, Wyoming near the Wamsutter Field.

PROPERTY DESCRIPTION

Operated Position

  • ~13 Mmcfe/d net production (83% Gas / 9% Oil / 8% NGL)
  • ~$375M net operating monthly cash flow (6-mo average)
  • ~$5.2MM forecasted operating income for remainder 2018 (March 1, 2018 effective date)

Multiple Bid Packages with Stacked Pay Potential

  • 389 gross wellbores with 45.6% average WI / 38.2% average NRI
  • ~46,303 net and ~85,202 gross acres across three (3) asset packages in the Greater Green River Basin
  • Bids to be submitted on individual packages: Hay Reservoir Unit, Wamsutter and Sierra Madre
  • Stacked pay potential with significant running room for asset development

Engineered Reserves with Significant Upside

  • ~8,515 MBOE / $33.4MM (PV10) PDP net Reserves
  • 465 identified PUD locations in the Lewis, Mesaverde (Almond Bar and Middle Almond), and Ft. Union formations
  • Additional unquantified upside in the Sierra Madre acreage with recent Niobrara and Shannon formation permitting activity

Offset Development By Leading Operators

  • Consistent development by offset Operators, such as BP, Southland Royalty and Exaro, lends support for economic development and resource delineation
  • Recent development likely stimulating the A&D market with interest in the Wamsutter region with multiple large transactions over the last 18 months

SOURCE: https://www.eagleriverholdingsllc.com/property/operated-non-operated-working-interest-assets-green-river-basin/

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