Ready-to-drill
Horizontal Mancos Oil Project
San Juan Resources has assembled a 25,000-acre Mancos oil horizontal project
with over 250 projected laterals and seeks partners to take to the next level
General Overview:
- Surrounded by 50 MMBO, 300 BCF vertical production
- READY-TO DRILL on two Unit drilling pads
- 25,000 Acres, Federal and Fee (40% fee, 40% HBP)
- 500-950 MBOE EUR with HI btu gas, strong show wells
- Two Federal Exploratory Units approved by BLM;
- Very low-cost entry into Project
- Size of the Prize: 195-Mancos 1.5-mil lats (Mancos B & C)
Phase 1:
- 30 Mancos 1.5-mi lats (Mancos C & B)
- NPV15 $176 MM
- ROI 85%, oil initial $63-down to $52 flat; $3 upto $4 flat
- 17 MMBO; 49 MMCF
- $8.0 MM D&C: for initial Unit wells; 1.5-mi laterals, pad efficiencies to $6.5MM
Deal Terms:
- 10% carry in 2 wells earns pro rata share of AMI leasehold
- 85% IRR, 1.2 year payout, single well economics
- Project shovel ready
Other key attributes:
- Existing gas gathering infrastructure--field take away up to 9 MMCFPD
- Stable New Mexico State regulatory structure due to Permian Basin anchor
- Multiple producing formations-- Mancos B & C (primary); Mancos A, Silt; Juana Lopez, Sanostee, Dakota, PC
- Enduring Resources is developing Mancos HZ averaging 8300 MBOE / month respectively,
Contact Jerry at jmchugh@sanjuanbasin.com for additional information, access to data room, and presentation.
