– – Largest Leaseholder in Northern DJ Basin – –
– – Substantial Current Production and Cash Flow with Years of High-Quality Inventory – –
HOUSTON, Sept. 6, 2022 /PRNewswire/ — Juniper Capital (“Juniper”) and Boomtown Oil & Gas Company (“Boomtown”) today announced the formation of North Peak Oil & Gas LLC (“North Peak”) through the combination of two existing Juniper portfolio entities (North Silo Resources and Longs Peak Resources) and the acquisition of assets from a private oil & gas company with complementary assets.
Highlights of North Peak
- Largest lease holder in the Wyoming DJ Basin with approximately 150,000 net acres
- Over 10,000 Barrels per Day of Gross Operated Oil production (over 11,000 Barrels of per Day of Oil Equivalent production) currently, generating substantial operational cash flow
- Drilling program scheduled to begin in September, which is expected to substantially grow future production
- Many years of high-quality inventory, with oil reserves per well in-line with Permian and Eagle Ford wells, and some of the lowest drilling and completion costs for long lateral horizontal wells in the U.S.
- F&D and cash operating cost each averaging less than $10.00/BOE are competitive with any basin
- Vast majority of the assets are fee leases located in Wyoming, one of the most constructive states in the U.S. for oil and gas development
- Owned produced water transportation and disposal infrastructure with scalable capacity reduces environmental footprint and allows for flexibility in development
- Oil and natural gas midstream infrastructure in place which allows for consistent operations and efficient pricing
Sean Fitzgerald, North Peak Co-President, commented, “We are honored to continue our partnership with Juniper Capital in putting together the premier operator in the oil-rich Northern DJ Basin, including now owning the horizontal well with the highest cumulative oil production ever in the entire DJ. The benefits of this consolidation into North Peak are very compelling, and we believe North Peak is one of the strongest private oil & gas companies in the U.S. We remain steadfast in our disciplined approach to running the business, and we continue to be committed to maximizing returns for investors and protecting the health, safety, and environment of our local communities. We look forward to demonstrating compelling results from our planned development program, which is scheduled to begin in the next few weeks.”
Edward Geiser, Managing Partner of Juniper Capital, added, “Juniper currently owns assets in the Permian, Eagle Ford and other major basins, and we regularly review oil & gas investment prospects in all the major basins. Based on its strong operational cash flow, low costs, and attractive well-level economics with years of inventory, we believe North Peak represents one of the most attractive opportunities we have seen. We are proud to continue our partnership with Boomtown in this area, and we are excited about what the future holds for North Peak.”
About Juniper Capital
Juniper Capital is an energy investment firm based in Houston, Texas with over $1.3 billion of cumulative equity commitments and current investments in the Permian Basin, Eagle Ford Trend Area, DJ Basin, and Powder River Basin. Juniper is focused on working with high-quality management teams to provide transformational equity capital to demonstrate the value and productive potential of oil and gas properties located primarily in the continental United States.
About Boomtown Oil and Gas
Boomtown Oil is a privately-owned Exploration & Production company based in Houston, Texas. The principals of the company are entrepreneurs with decades of oil & gas operating experience that are focused on low-cost, safe, and technically sound operations. The company’s goal is to be a value-added partner and friend whether you are a landowner, JV member, financial sponsor, or service provider.
SOURCE Juniper Capital Advisors, LP