Casper, Midwest, Edgerton: Salt Creek and Teapot Dome, a century of multi-pay anticlinal production now valued as enhanced recovery rather than drilling upside.
Natrona County is a century of Wyoming oil history. Salt Creek, historically the Rocky Mountains' giant field at roughly 699 million barrels cumulative, produces from Wall Creek and Frontier sands plus Shannon, Sussex, Parkman, Lakota, Sundance, and Tensleep. Teapot Dome sits to the south. Grieve Field produces Muddy.
What matters for an owner is that this is a mature, enhanced recovery asset rather than a drilling county. Roughly 1,296 wells produce out of about 10,330 drilled, and there has been roughly one permit in two years with no recent spuds. We would rather tell you that than imply development is coming.
That also means the valuation method is different. These are conventional multi-pay anticlines developed by vertical wells over a hundred years and now produced through CO2 flooding. The right analysis is how much recovery remains under the flood, at what decline, not a shale style count of remaining horizontal locations. Applying shale logic here overstates the upside, and applying a shale multiple to this cash flow understates a long, stable, shallow declining stream. We show you the arithmetic we actually used.
FDL Operating holds Salt Creek, Monell, and Linch following the 2015 acquisition from Anadarko with KKR. Denbury runs Grieve. Salt Creek was Naval Petroleum Reserve No. 3, the Teapot Dome reserve, so federal acreage here is substantial and worth establishing.
Wyoming imposes no individual income tax on your gain, protects royalty from production cost deductions by statute, and has no dormant mineral act. Casper is the recording venue for a very large volume of central Wyoming instruments. Send us what you have.
The primary pays at Salt Creek, historically the Rocky Mountains' giant field with roughly 699 million barrels cumulative.
Additional shallow pays on the same structures.
Deeper conventional intervals across the county.
Producing at Grieve Field.
Wherever your tract sits in Natrona County, we will research it free and value it with the work shown.
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