Alpha Wolf Joint Venture

Non-Op Working Interest Investment Opportunity ($3.4 Million)

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Alpha Wolf Joint Venture

PROJECT

Nine-well Development Program - Delaware sub-basin (Core)
Permian Basin - Lea Country, New Mexico

PROJECT

Alpha Wolf Joint Venture

Delaware Sub-Basin (Permian Basin) – Lea County, New Mexico

The Alpha Wolf Joint Venture involves the drilling and completion of nine new horizontal wells with Avant Natural Resources (Denver, Colorado) as the operator in a core area of the prolific Bone Spring Trend in the Delaware Sub-Basin of the Permian Basin, in Lea County, New Mexico. The Bone Spring Trend is currently ranked within the Top 5 economic oil shale resource plays in the United States and is considered a very low geologic-risk drilling opportunity in an established oil-rich field. Lea County, New Mexico is currently the most actively-drilled county in the United States, with 56 total drilling and completion rigs active.
The Bone Spring Trend is composed of interbedded oil-rich shale (original source rock for the oil in-place), carbonate and sandstones (both reservoir-quality rock with porosity) and responds very well to horizontal drilling and multi-stage fracturing due to the brittle nature of the formation. The on-going development of the Bone Spring Trend can be considered more of a “mining process” than a true exploration or “wildcatting” play, since the oil is already in-place, and horizontal drilling and multi-stage hydraulic fracturing can be used to extract the oil economically.

Eagle Natural Resources recently expanded into the prolific Bone Spring and Wolfcamp Trends of the Permian Basin of West Texas, with its first Delaware Basin well operated by WPX Energy in Reeves County, Texas producing 257 Thousand Barrels Oil and 1.4 Billion Cubic Feet of Natural Gas in 16 months. In the DJ Basin of Colorado, Eagle has already participated in a non-operating working interest position in 61 consecutive successful Niobrara wells to date, with gross production of 7.8 Million Barrels Oil and 41 Billion Cubic Feet of Natural Gas (or 14.8 Million Barrels Oil, Equivalent) since September 2018, from six projects.

Eagle continues to pursue additional non-operating working interest projects in the Permian Basin and DJ Basin, taking advantage of recovering oil and natural gas prices, as well as the later generation completion techniques developed by industry over many years, receiving the benefit of billions of dollars invested in the “learning curve” of early development in the prolific Bone Spring, Wolfcamp and Niobrara Trends.

1-Well Development Program
Powder River Basin, Converse County, Wyoming

1.5625% Non-Op WI with 1.10938% NRI Available for $3,400,000 (Nine Wells)

Nine 2-Mile Horizonal Bone Spring Wells to be Drilled and Completed by Operator Avant Natural Resources (Denver, Colorado) Operator Avant to Spud Wells in 2023 or 2024; Benefit of Latest Generation Completion Technology; Wellbore Only Three 1st Bone Spring Wells – Offset Analog 1st Bone Spring Well: 391,524 BO + 453,593 MCFG (469,730 BOE) in 14 Months Three 2nd Bone Spring Wells – Offset Analog 2nd Bone Spring Well: 629,770 BO + 817,334 MCFG (770,690 BOE) in 6.5 Years Three 3rd Bone Spring Wells – Offset Analog 3rd Bone Spring Well: 81,646 BO + 39,391 MCFG (88,438 BOE) in 4.5 Months

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Eagle Natural Resources, LLC

ENR Operating, LLC RRC # 253075 

5445 Legacy Dr. STE 440 Plano TX 75024
Phone: (469) 915-9366

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