PRESS RELEASES

Navigation Powder River announces record well result in the Powder River Basin

 

HOUSTON, Texas, April 1st, 2019 – Navigation Powder River, sponsored by certain investment funds managed by Juniper Capital Advisors, L.P., announced record initial production from the Jacob Federal 1-42-73-3H well in the Powder River Basin (PRB). “We continue to refine our approach in the PRB, incorporating geology, rock mechanics, lateral placement, completion design, and production optimization. Our wholistic approach, combined with a focused design based on the specific reservoir environment of each well, has led to fantastic results,” said Fred Miller, President and CEO.

 

The Jacob Federal 1-42-73-3H well was completed in the Turner

formation,with a lateral length of 4,366 feet. Peak 24-hour production

was 2,210 BOE/D (91% liquids). Peak 30-day cumulative production

was 60,834 BOE (92% liquids), for an IP-30 of 2,028 BOE/D

(464 BOE/D per 1,000 feet of lateral).  The well saw first oil

while drilling out plugs prior to initiating flowback.

The Jacob Federal is the third well drilled and completed in the

Powder River Basin by the Navigation team. “The tremendous

results experienced with the Jacob well and Navigation’s two prior

PRB wells demonstrate not only the geologic prospectively of

Navigation’s acreage in the PRB, but also the Navigation team’s deep experience in drilling, completing, and producing unconventional wells. With each successive well that we drill, we continue to refine and enhance our well design and engineered completions, and we expect continued improvement as we develop our acreage position in 2019 and beyond,” said Fred Miller.

Navigation Powder River, LLC is an oil and gas exploration company managed by Navigation Petroleum. Navigation Powder River is focused on identifying, acquiring, and developing onshore crude oil and natural gas assets with current operations in the Powder River Basin. The company is based in Houston, Texas and is managed by Fred Miller, President and CEO. For additional information, please visit https://www.navigationpetroleum.com/.

Juniper Capital Advisors, L.P. is an investment advisor registered with the United States Securities and Exchange Commission. Together with its affiliates, Juniper provides private equity capital to middle-market oil and gas companies located primarily in the continental United States. As of December 31, 2018, Juniper and its affiliates had in excess of $1.2 billion in assets under management. For additional information, please visit http://www.juncap.com/.

For questions regarding this press release, please contact Robert Long, Navigation Petroleum’s Chief Financial Officer, at (281-225-1235).

Navigation Powder River, LLC Announces Record Production in Powder River Basin

 

HOUSTON, Texas, April 24th, 2018 – Navigation Powder River, LLC, supported by certain investment funds managed by Juniper Capital Advisors, L.P., announced record initial production from successful drilling of their first wells in the Powder River Basin.  “Our first two wells are a great starting point and we feel that we will continue to make significant improvements in performance throughout our 2018 drilling program,” said Fred Miller, President and CEO. Both wells are completed in the Turner formation with the results below.

 

The first well, Adam Federal 35-43-73-2H, has an initial production of 1,994 BOE/D at 88% oil. The 30-day average is 988 BOE/D or 241 BOE/D per 1000 feet of lateral.  The Adam well saw oil production in the first three hours into flowback and continues to flow up the casing.

 

The second well, Lucian Federal 3-42-73-3H, has an initial production of 2,071 BOE/D at 86.2% oil. The 30-day average is 1,210 BOE/D or 275 BOE/D per 1000 feet of lateral.  The Lucian well showed first oil during coil tubing drill-out before flowback and continues to flow up the casing.

 

Both wells highlight the effectiveness of utilizing a modern completion design. Initial production on both wells emphasizes accelerated adjustments made by implementing a stage-by-stage strategy as opposed to a well-by-well plan.  “We are encouraged that our stage-by-stage completion modification approach is not only helping us accelerate through the learning curve but also improving well results,” said Fred Miller.

Navigation Powder River, LLC is an oil and gas exploration company managed by Navigation Petroleum.  Navigation Powder River is focused on identifying, acquiring, and developing onshore crude oil and natural gas assets with current operations in the Powder River Basin.  The company is based in Houston, Texas and is managed by Fred Miller, President and CEO and Gary Guerrieri, VP of Geosciences.  

 

Juniper Capital Advisors, L.P. is an investment advisor registered with the United States Securities and Exchange Commission.  Together with its affiliates, Juniper provides private equity capital to middle-market oil and gas companies. Juniper is focused on working with high-quality management teams to provide transformational capital to demonstrate the value and productive potential of properties located primarily in the continental United States.  Juniper targets investments of $35 to $85 million per investment in the upstream E&P space.  Juniper’s team consists of experienced individuals who collectively have invested in over 40 private oil and gas companies or projects throughout their careers. Juniper is directed by Edward Geiser, Managing Partner and Head of Investment Committee. For additional information, please visit  http://www.juncap.com/.

 

For questions regarding the press release, please contact: Mike Sheahan: (281) 225-1221