ENERGY EQUITY PARTNERS LLC

The Provenance Project

$11,000,000 Senior Secured Private Credit Note · Brookeland Field · Austin Chalk Reserve Conversion · Sabine County, TX
CONFIDENTIAL — QUALIFIED PURCHASERS ONLY — NOT AN OFFER TO SELL SECURITIES
Systematic conversion of proven, under-monetized Austin Chalk reserves through modern completions and ring-fenced asset finance. 3.3 MMBOE of WSI-assessed PUD across 13,441 unrestricted acres. No well in this field has ever been stimulated. AI integration is deliberate: completion optimization, predictive maintenance, real-time reservoir modeling. Seeking capital partners who accelerate implementation at scale.
Live Strip Positioning (WTI ~$88)
7.47x
24-Mo Coverage
Mo 4-5
Principal Return
2.38x
Tax-Adj MOIC (37%)
$28
Tax-Adj Breakeven
$37
Gross Breakeven
Proof Point — Odom 3 1H (Completed · Sponsor-Funded)
You are not funding a pilot. The first well is done. $1.56M actual cost. Validated IP, decline, and lift method.
47 API light crude · ~1,500 MCF/d gas
72% decline calibrated · Rod pump > ESP
SponsorStructureSecurityTerm
Energy Equity Partners LLC
18 North Capital LLC (sub)
3-tranche drawdown
Called as wells mobilize
First lien on 7 per-well SPVs
Dedicated single-purpose entities
18-mo hard maturity
MOIC: 1.5x-1.9x
Key Metrics
PUD (note wells)2.55 MMBOE — 10.5x collateral
24-mo NOI (live)$82.2M
Per-workover820K EUR / $1.54M = ~24x gross
HedgeCostless collar, 60%+ PDP, live-adjusted
Insurance$20MM/well · $160MM program
Structural Protections — Five Layers
1. Senior Secured Note
No WI. No operator status. No contractor privity. Three entity layers between investor and any liability.
2. Per-Well SPV
Judgment-remote. Single wellbore WI. Cross-contamination structurally impossible.
3. 18 North Capital LLC
Assignment vehicle, unpledged. Retains 13,441-acre position and deeper zone rights.
4. Contract Operator (EEP)
All vendor privity and insurance. Named insured on all contractor policies.
5. Cross-Liability Containment & Insurance
Zero cross-contamination between SPVs. $20MM/well ($160MM program) — COW, pollution, GL. EEP absorbs all lien surface. Each SPV and note holder named Additional Insured and Loss Payee.
Sponsor retains operatorship, promote, and 13,441-acre platform (deeper zones, ~5,000 undeveloped acres, Odom 3 revenue).
Exact Ask
$11M note — six workovers + SWD. Tranche 1 production Month 2-3. 50% FCFE sweep. Capital never sits undeployed.
NEXT STEP
NDA → immediate access to the live data room:
PPM Dashboarddeal structure, per-well assets, waterfall, returns
Proforma Modelscenarios, hedge overlay, sensitivity tables
Ops Commandreal-time macro intel, futures desk, acquisition radar
30-minute diligence call — this week.