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.
Cortez Resources LLC and Basin Opportunity Assets LP are offering for sale certain mineral properties located in the Midland Basin. The company has retained TenOaks Energy Advisors as its exclusive adviser in connection with the transaction.
Asset Highlights:
- Unique opportunity to acquire a rapidly growing mineral position in the Midland Basin
- Expansive footprint covering 4,375 net royalty acres primarily in Howard County
- Unprecedented development activity on position
- 90 horizontal spuds in 2021 | Already 34 horizontal spuds in first-quarter 2022
- 8.5 new permits filed each month since January 2021
- Next 12-month Cash Flow: $40 million
- Near-term upside includes 56 DUCs and 30 permits with six rigs currently on position
- ~500 quantified drilling locations targeting multiple proven benches
- Asset strategically positioned under active operators focused in Howard County
- HighPeak Energy, Laredo Petroleum, Ovintiv and Surge Energy
Bids are due at noon CST on May 26. A virtual data room is available starting April 25. The transaction will have an effective date of June 1.
For information visit tenoaksenergyadvisors.com or contact Forrest Salge at TenOaks Energy Advisors at 817-233-4096 or Forrest.Salge@tenoaksadvisors.com.
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