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.
A private seller has retained TenOaks Energy Advisors as its exclusive adviser in connection with the sale of its legacy mineral position in the Midland Basin.
Highlights:
- Coveted mineral position located in the heart of rapid Midland County development
- >1,500 horizontal wells drilled on or within 5 miles of the position in the last 5 years
- ~3,000 net royalty acres across 11 sections and 22 DSUs (average net revenue interest: 3%-4%)
- 70% operated by Exxon Mobil / XTO Energy
- 66 producing horizontal wells across multiple Spraberry and Wolfcamp formations
- 23 horizontal completions thus far in 2021
- Next 12-month Cash Flow: $11.5 million
- Near-term upside includes 26 high-impact permits
- >275 quantified drilling locations targeting primarily the Lower Spraberry, Wolfcamp A and Wolfcamp B
- Key operators include Exxon/XTO, Ovintiv and Chevron
- Low administrative burden with 4-5 checks per month
Bids are due by noon CST on Oct. 14. The transaction is expected to have an Oct. 1 effective date. Signing of a purchase and sale agreement is targeted by Nov. 4.
A virtual data room is available. For information visit tenoaksenergyadvisors.com or contact Mariana Castaneda at TenOaks Energy Advisors at 972-822-3817 or Mariana.Castaneda@tenoaksadvisors.com.
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