The following information is provided by TenOaks Energy Advisors LLC. All inquiries on the following listings should be directed to TenOaks. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
CPEP Management LLC retained TenOaks Energy Advisors LLC in connection with the potential sale of certain cash-generating wellbore-only properties located in the Delaware Basin.
CPEP Management is an affiliate of Cross Plains Energy Partners LLC. The assets are located in New Mexico’s Eddy and Lea County.
Highlights:
- Nonoperated working interests in 20 producing horizontal wells in the core of the Delaware Basin (Eddy and Lea County, N.M.)
- Substantial cash flow and production base:
- Next 12-month Net Cash Flow: $19 million
- Projected Net Production: 2,950 boe/d (61% Liquids)
- Minimal administrative costs / burden
- Partnered with well-established Delaware Basin operators—EOG Resources Inc., Marathon Oil Corp., ConocoPhillips Co. (all wells drilled by Concho Resources) and Mewbourne Oil Co.
- High Net Revenue Interest on multiple wells provides opportunity to monetize Overriding Royalty Interest
Bids are due May 20. The transaction is expected to have a June 1 effective date with a purchase and sales agreement targeted by June 10.
A virtual data room is available. For information visit tenoaksenergyadvisors.com or contact Lindsay Sherrer at TenOaks Energy Advisors at 214-620-4421 or Lindsay.Sherrer@tenoaksadvisors.com.
Recommended Reading
Asia, EU Buyers Warming Up to US Shale M&A Again—Jefferies
2024-10-29 - Foreign asset buyers are considering U.S. upstream M&A to lower their LNG supply costs and avoid windfall taxes on European operations, Jefferies Managing Director Bill Marko says.
Expand Energy: Chesapeake’s Bankruptcy to Largest Gas Producer in US
2024-11-08 - Before Expand Energy could boast itself as the largest by volume natural gas-weighted E&P in the U.S., its predecessor Chesapeake Energy had to climb out of bankruptcy.
Investment Firm Aethon Explores Options for $10B US Natgas Assets, Sources Say
2024-11-13 - U.S. energy-focused investment firm Aethon Energy Management is exploring options for its natural gas production and midstream assets that include a sale or an initial public offering at a valuation of about $10 billion, including debt, people familiar with the matter said on Nov. 12.
ONEOK’s Acquisitions Pay Off with Increased Earnings
2024-10-31 - ONEOK Inc. also announced the completion of its $2.6 billion Medallion Midstream deal.
Woodside, Tokyo Gas in Discussions Over stake in US LNG Project
2024-10-31 - Woodside has said it is seeking equity partners to take minority stakes in the export project, now called Louisiana LNG. CEO Meg O'Neill said earlier this month the company had received expressions of interest from "multiple parties."
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.