Email
Print 
Bookmark
Hayden Harper Energy KA, LLC has retained E-Spectrum Advisors to sell certain operated producing properties and midstream assets in Appalachia. The properties are located in Kentucky, West Virginia, Virginia, Pennsylvania, and New York and have an average historical net operating cash flow of approximately $1.1 million per month.
The producing properties include ownership in over 1,150 wells holding over 135,000 acres of shallow rights (100% HBP). Net production has averaged 7.8 million cubic feet equivalent (MMCFE) per day (98% gas) from shallow formations. The liquids-rich Kentucky production has a 1,200 to 1,400 BTU content and is processed through the gas processing facility owned by the Company. Average historical net operating cash flow from the production is approximately $872,000 per month.
The low decline reserve base includes total proved reserves of 75.8 billion cubic feet equivalent (75% proved developed producing) with a PV-10 of $73.6 million. Upside includes numerous low-cost, low-risk new drills and recompletions as well as unquantified potential in HBP acreage. Future development program is self-funding.
The midstream assets include a newly constructed, 20 million cubic feet per day gas processing plant with a long-term supply contract as well as a 30-mile, 8-inch fixed-fee pipeline with 15 million cubic feet per day capacity. Current run rate EBITDA on the midstream package is $481,000 per month.
The online data room is open. Bids are due December 10.
Contact:
E-Spectrum Advisors
Lindsay Sherrer, 214-987-6109 or email.