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$68,000,000Buyer
Wolfberry Assets, Martin Co., TX
Seller
Prospect Capital
Seller Advisor
April 2013
$65,800,000Buyer
Corporation
Wolfberry Assets, Midland Co.
Seller
Private Company
Seller Advisor
February 2012
$62,500,000Buyer
Delaware Basin
Seller
Seller Advisor
October 2011
For Salewww.plsx.com
Divestment ServicesPLS
© 2
010
Powder River CBM Sale Package
~1,600 Total Wells; ~500 Producing Wells
~155,000 Net Acres. Coal-Bed Methane Project.
MultiZone Completions.
~97% Operated WI; ~80% NRI (Lease)
Net Production: ~13,600 MCFD
Campbell, Plus Parts of Johnson & SheridanImmediate Drilling Potential
Powder River Basin Fairway~155,000 Net Acres
~13.6 MMcfd Net Production
SALES BROCHURE
ROCKY MOUNTAIN AREA
COLORADOKANSAS
UTAHWYOMING
PLS
© 19
90
MAY, 1990
Royalty Sales Package
Bids Due August 10, 1991
Divestment ServicesPLS ©
199
1
www.plsx.com
Offers Considered On Total Sales Package
Buy-Side Advisor
April 2012
$608,000,000Buy-Side Origination
Wheatland Natural Gas Reserves
Seller
$35,000,000Buyer
Gulf of Mexico Shelf
Seller
Advisor
Summer 2006
—
—
Seller Advisor
July 2015
$6,000,000Buyer
San Joaquin Basin Operated PackageKern Co., California
Seller
Century Exploration Resources, LLC
~$8,800,000Buyer
North Texas Operated PackageThrockmorton & Shackelford Cos., TX
Seller
Seller Advisor
November 2014
PRIVATE BUYER
Seller Advisor
October 2014
$7,200,000Buyer
Eagle Ford Non-Op Package McMullen Co., Texas
Seller
Seller Advisor
June 2015
$4,600,773Buyer
Buy-Side Client West Texas Operated Package
Seller
Private Seller
$3,000,000Buyer
Permian Non-Op Package Crane Co., TX
Seller
Seller Advisor
January 2014
Grayson Petroleum
$3,250,000Buyer
Tennessee Operated Package Multiple Counties
Seller
Seller Advisor
December 2014
Seller Advisor
January 2015
$2,500,000Buyer
South Louisiana Non-Op PackageAssumption Ph., LA
Seller
$8,500,000Buyer
12-State Royalty Project Non-Op WI & Overrides
Seller
Seller Advisor
January 2014
Private Company
$1,650,000Buyer
California Acreage Package Santa Maria Prospect
Seller
Seller Advisor
October 2014
Seller Advisor
March 2015
$2,600,000Buyer
Kansas Operated PackageReno Co., Kansas
Seller
—
—
$35,500,000Buyer
Bakken Non-Operated Package, North Dakota & Montana
Seller
Private Company
Undisclosed
Seller Advisor
August 2014
$7,200,000Buyer
Midcontinent Non-Op �������Sale Package Logan & King�isher, Cos., OK
Seller
Seller Advisor
July 2015
$64,000,000Buyer
Bakken Non-Operated Package, North Dakota & Montana
Seller
Private Company
Seller Advisor
May 2014
$17,500,000Buyer
California Royalty Package Santa Maria Basin
Seller
Seller Advisor
January 2014
Zapata Co., TX Leases For SaleBankruptcy Process
5 Gas Wells on 3 Leases.
Lobo Consolidated Field
50% Operated WI; 38% NRI
Gross Production: 1,103 MCFD
Court Ordered Auction November 14, 2014
2.0% Buyer Premium Owed To PLS
Divestment ServicesPLS
© 2
014
Zapata Co., TXLobo Consolidated
Exsun & Cisco Benavides
10,000-13,300 Ft DeepOther Objectives PossibleNet Production: 415 MCFD
www.plsx.com
22-Wells; 11-Areas; 48-ShutIn
Operated & NonOperated WI For Sale
Significant Upside: PUD, PDNP
Strong PDP & Cash Flow
GOM And Offshore Sale Package
Divestment ServicesPLS©2007
Brazos, Calhoun, Galveston &
Matagorda Co.
For Sale
www.plsx.com
High Island, Ship Shoal, Zoller,
West Delta & West Cameron
Miocene, Frio & Additional Multipay Zones
Hill Co., TX Sale Package
Barnett Shale Opportunity
www.plsx.comPLS
© 2
009
Hill Co., TXNewark East FieldBarnett Shale Production
18-mi. Gathering System3-D Seismic: ~88 Square Miles
168-Net LocationsEUR: ~1.75 BCFE/Well
21-Wells. 20,333-Net Acres ( 33% HBP).
71% Operated WI; 55% NRI.
Gross Production: ~7,500 MCFD
Net Production: 5,200 MCFD
Net PDP Reserves: 12.8 BCFE
For Salewww.plsx.com
For Salewww.plsx.com
Divestment ServicesPLS
© 2
010
Hughes Co., OK Chapter 11 Sale Package
Woodford Shale Opportunity
18-Wells; 13-Operated; 1-SWD
5,583-Acres (76% HBP). 9,305-Acres to JV
Net Production: ~2.6 MMCFeD
Net PDP Reserves: 7.92 BCFe
2-D & 3-D Seismic (~36 mi. & ~30 sq. mi.)
5,583-Acres (76% HBP). 9,305-Acres to JV
WOODFORD SHALE PRODUCTION2-D & 3-D Seismic (~36 mi.
& ~30 sq. mi.)
OFFSET BY MAJORS
——
–
–
–
–
$35,000,000Buyer
Gulf of Mexico Shelf
Seller
Advisor
Summer 2006
Seller Advisor
May 2013
>$70,000,000Buyer
16 Wells, 1/6 minerals Under 10,000 acresNet Cash Flow: $800,000/mn
Main operators: Newfield & CHK LaSalle CO., TX
Seller
Private Company
Advisor
May 2007
$23,000,000Buy-Side Origination
Savell Field
Seller
$9,800,000Buyer
Exxon Means Unit
Seller
Comet, LLCAdvisor
October 2011
Buy-Side Advisor
April 2012
$608,000,000Buy-Side Origination
Wheatland Natural Gas Reserves
Seller
$608,000,000Buyer
Wheatland Natural Gas Reserves
Seller
Buyer Advisor
April 2012
—
—
All Standard Disclaimers & Seller Rights Apply.
QUICKPRICE Serving the marketplace with news, analysis and business opportunities
US Stock Performers, Last 7 days
Stock$/Share10/8/15
1-Week Change
Top 5 Stock Performers
Stone (SGY) $9.53 5%
California (CRC) $4.42 5%
Halcon (HK) $1.00 5%
Denbury (DNR) $3.86 4%
EP (EPE) $7.82 3%
Bottom 5 Stock Performers
Cobalt (CIE) $7.75 -19%
Pioneer (PXD) $138.53 -18%
ExxonMobil (XOM) $80.03 -18%
Cabot (COG) $23.15 -16%
Southwestern (SWN) $13.59 -16%
S&P 500 2,015 3%
Source: Bloomberg
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PLS ENERGY ADVISORS
WTI rallies 9% to $49.63 on falling supply optimismWTI jumped $4.09 last week to close at $49.63/bbl on Friday, Oct. 9. The price was
boosted by optimism surrounding falling US oil production and auspicious sentiment sparked by a possible meeting between Russia and OPEC.
Recent EIA data showed that US output has fallen to 9.1 MMbo/d since peaking in April at 9.6 MMbo/d. The EIA signaled this week that 2016 volumes could fall from
its 8.8 MMbo/d estimate. Further EIA data showed US output fell 120,000 bo/d from August to September.
Early in the week, Russia announced it would meet with OPEC members and some nonmembers to discuss the global oil market. Since oil prices have fallen more than 50%, neither Saudi Arabia nor Russia has let up on production, sparking a global war for customers that has helped keep down prices. Many hope a resolution could lead to a meaningful reduction in supply. However, when Russia met with OPEC in May, the result was Russia
refusing to cut its production. Some see Russia as possible addition to OPEC while others say Moscow could lead to the destruction of the cartel.
PIRA rejects ‘lower for longer,’ calls rising oil prices—Last in the week, PIRA Energy Group released its estimates for 2016 and 2017
crude oil prices during its annual closed-door meeting. The group is revered for its price projections after calling the 2014 price collapse.
Intraday WTI & Henry Hub Prices (10/4/15 - 10/9/15)
$2.30
$2.35
$2.40
$2.45
$2.50
$2.55
$2.60
$2.65
$2.70
$42.00
$43.00
$44.00
$45.00
$46.00
$47.00
$48.00
$49.00
$50.00
$51.00
$52.00
10/4/15 10/5/15 10/5/15 10/6/15 10/7/15 10/7/15 10/8/15 10/9/15
WTI Henry Hub
Source: Bloomberg
1. WTI ends week up at $49.63/bbl, Henry Hub up 2% at $2.50/MMbtu.
2. US oil rig count fell nine vs. prior week to 605 & gas rigs fell six to 189; 795 total rigs running, down 59% YOY.
3. US oil stocks rose 3.1 MMbbl, with volumes at Cushing rising
4. Gas stocks rose 95 Bcf vs. 98 Bcf consensus, with stocks.
5. Goldman says rally will be short lived since it was not spurred by supply & demand.
Quick-Look
Prices also boosted by Russia’s possible meeting with OPEC.
Oil
Gas
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All Standard Disclaimers & Seller Rights Apply.
CAPITALMARKETSServing the marketplace with news, analysis and business opportunities
PP
PP
FEATURED DEALS
ETE gets Williams in 33% hewed deal
Investor sentiment hurts Weatherford’s fundraising plans
Freeport-McMoRan adding 96.7 million new common shares to the market.
Flip to secured from unsecured erases$285 million in bond value.
Leadership credibility will take longtime to recover, Tudor Pickering said.
June’s $48 billion value cut back to current $32.9B on share-price slides.
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All Standard Disclaimers & Seller Rights Apply.
OILFIELDSERVICESServing the marketplace with news, analysis and business opportunities
PP
PP
FEATURED DEALS
Noble takes standard spin-off plunge with IPO plan
2014 outlook—Big 4 & vessel firms still looking strong
Sweden’s Sandvik comes to oilpatch with Varel buy
Foster Wheeler on the block in $3.2 billion UK takeover bid
Deal will ramp exposure to growthregions including the US & Middle East.
Varel provides roller cone & fixedcutter bits & tubular enhancements.
Spinco will be world’s largest pure-play standard fleet.
Services the bottleneck in globalenergy boom, will capture most benefit.
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All Standard Disclaimers & Seller Rights Apply.
TransactionsServing the marketplace with news, analysis and business opportunities
PP
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FEATURED DEALS
Linn getting $1 billion from Quantum to fund acquisitions
SPP adds Eagle Ford in $85 million dropdown from Sanchez
Shell strikes mega-deal to buy BG Group for $82 billion
Second-largest upstream deal everafter Exxon’s 1998 Mobil acquisition.
Acquired production flat at 1,000 boe/d for 5 years, followed by shallow decline.
Linn will participate in acquisitionswith working interest of 15-50%.
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Shell/BG deal turns spotlight onto how Exxon will respond
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Exxon execs have indicated interest in making deals during downturn.
All Standard Disclaimers & Seller Rights Apply.
CANADIANCAPITALServing the marketplace with news, analysis and business opportunities
PP
DV
FEATURED DEALS
Canadian oil industry a net contributor, think tank says
Encana’s $1.46B PrairieSky IPO is Canada’s biggest in 14 years52 million shares go off at $28 each, upsized by 20 million shares
Keyera brings 3.75 million shares to market for $73.75 each
Journey’s open arms can hold up to $235 million in IPO
Journey will offer 14 million shares,selling shareholder will sell 2.5 million.
Up to $318 million potential proceeds, used to pay debt & for capex.
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Potential haul from royalty businessspinoff is over $1.6 billion.
Tax treatments deferring payment until production hits unfairly called ‘subsidies’.
All Standard Disclaimers & Seller Rights Apply.
CANADIANACQUIRERServing the marketplace with news, analysis and business opportunities
PP
PP
FEATURED DEALS
PetroChina buys Athabasca's Dover stake for $1.3 billion
Encana adds sixth core play with $3.4 billion Eagle Ford buy
Sinopec brings Chinese utility onboard for Montney buy-inHuadian will own 5%, Sinopec 10% of Petronas’ Pacific NorthWest project
Crescent Point bets on Torquay in $1.1 billion CanEra buy
Emerging play is Saskatchewan extension of North Dakota’s Three Forks shale.
Indian Oil Corp.’s 10% acquisition inMarch was reportedly $1.0 billion.
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After long-awaited oil sands project exit, Athabasca seeks partner to drill Duvernay.
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Deal doubles Encana’s oil output, inline with goal of 75% liquids by 2017.
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All Standard Disclaimers & Seller Rights Apply.
INTERNATIONALCAPITALServing the marketplace with news, analysis and business opportunities
DI
DV
FEATURED DEALS
EU says Gazprom may be anti-trust violator
Pemex prices its largest euro issue ever at €2.25 billion
Exxon’s Q1 earnings down 46% but 40% over analysts’ viewsNon-US downstream up nearly 500% to $1.1 billion
Sinopec’s record dollar/euro multi-trancher raises over $6.4BNewly minted ‘elite’ borrower overbooks orders on both currencies
Size & enthusiasm 'very encouraging’for industry, says banker.
€5.75 billion book built with interestslightly higher in the longer tenor.
Analyst consensus was $0.83/shareon revenue of $56.39 billion.
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Gazprom partitioning Central & Eastern European gas markets, EC says.
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All Standard Disclaimers & Seller Rights Apply.
INTERNATIONALDEALSServing the marketplace with news, analysis and business opportunities
CO
PP
FEATURED DEALS
Petronas closes $2.3 billion Shah Deniz buy from Statoil
Total takes helm at Elk & Antelope as dispute ends
Repsol boosts upstream assets with Talisman deal closing
Alfa & Harbour make $5.5 billion bid for Pacific Rubiales
Offer price 150% above this year’slows but 73% below last year’s high.
Closing significantly increasesRepsol’s assets in OECD countries.
Statoil received 218 MMcf/d net from Shah Deniz in Q1.
Oil Search challenged Total buy-in, claiming it had preferential rights.
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Houston. Dallas/Ft. Worth. Denver. New Orleans. New York. Calgary. Paris. Geneva. London.
