Juno 2019 - Permian Divestiture
Overview
- Long-life, shallow decline oil assets located in the prolific Clear Fork Trend of the Permian Basin
- Largely contiguous 10,250 net acre position located in the Hoople Field in Crosby and Lubbock Counties, Texas
- 100% operated with high WI (100%) and NRI (>75%)
- Favorable leasehold position with little-to-no drilling obligations until 2021; >50% of acreage position under two leases from one landowner
- Current production of ~300 net bopd (100% oil) with significant remaining drilling inventory consisting of ~200+ low-risk Clear Fork locations
- Asset provides substantial, economic running room for organic and acquisitive growth
- Existing Clear Fork acreage only ~15% developed based on 10-acre development plan
- –Additional upside through 5-acre development, secondary recovery and Glorieta development as demonstrated in offsetting acreage; CO2 and Wolfcamp potential
- Multiple bolt-on acquisition opportunities and new leasing opportunities
- Existing Clear Fork acreage only ~15% developed based on 10-acre development plan
- Acreage position largely delineated through existing and offset development; full-scale development plan in place with drill-ready infrastructure