Iron Horse Joint Venture

Non-Op Working Interest Investment Opportunity ($2.4 Million)

Iron Horse Joint Venture

PROJECT

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

PROJECT

Low-Risk Wolfcamp Development

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

The Iron Horse Joint Venture involves the drilling and completion of four new horizontal wells with Alpha Energy Partners as the operator in a core area of the prolific Wolfcamp Trend in the Delaware Sub-Basin of the Permian Basin, in Eddy County, New Mexico. The Wolfcamp 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. Eddy County, New Mexico is currently the second most actively-drilled county in the United States, with 53 total drilling and completion rigs active.

The Wolfcamp 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 multistage fracturing due to the brittle nature of the formation. The on-going development of the Wolfcamp 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 Wolfcamp and Bone Spring Trends of the Permian Basin of West Texas, with its first Delaware Sub-Basin horizontal well operated by WPX Energy in Reeves County, Texas producing over 200 Thousand Barrels Oil and 1 Billion Cubic Feet of Natural Gas in only nine months. In the DJ Basin of Colorado, Eagle has already participated in a non-operating working interest position in 61 consecutive successful horizontal 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 Wolfcamp, Bone Spring and Niobrara Trends.

Four‐Well Development Program
Delaware Sub-Basin (Core), Eddy County, NM

2.477566% Non‐Op WI (Avg) and 1.858175% NRI (Avg) Available for $2,400,000 (Four Wells)

Four 2‐Mile Horizontal Wolfcamp Wells to be Drilled and Completed by Operator
Alpha Energy Partners (Midland, TX) Operator AEP to Spud Wells in 2023; Benefit of Latest
Generation Completion Technology in 2023; Wellbore Only Offset Analog Wolfcamp Well:
407,697 BO + 1,384,317 MCFG (646,372 BOE) in 3.5 Years ‐ Max Monthly: 1,379 BOEPD

There are significant risks associated with oil and gas investments. Information found on this site is for general purposes only and is not a solicitation to buy or an offer to sell securities. General information on this site is not intended to be used as individual investment or tax advice. Consult your personal tax advisor concerning the current tax laws and their applicability and effect on your personal tax situation.

Eagle Natural Resources, LLC

ENR Operating, LLC RRC # 253075

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

Iron Horse Joint Venture