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.
Recommended Reading
The Wall: Uinta, Green River Gas Fills West Coast Supply Gaps
2025-03-05 - Gas demand is rising in the western U.S., and Uinta and Green River producers have ample supply and takeaway capacity.
Brookfield Infrastructure Partners Buys Colonial Pipeline for $9B
2025-04-04 - Brookfield Infrastructure Partners LP has agreed to acquire Colonial Enterprises, the owner of the Colonial Pipeline, in a deal valued at $9 billion.
Western Midstream to Build Permian Produced Water Pipeline
2025-02-26 - Western Midstream is investing up to $450 million to expand its produced water infrastructure, including the Pathfinder pipeline to transport produced water to disposal facilities in the Delaware Basin.
Targa Buys Back Bakken Assets After Strong 2024
2025-02-20 - Targa Resources Corp. is repurchasing its interest in Targa Badlands LLC for $1.8 billion and announced three new projects to expand its NGL system during its fourth-quarter earnings call.
Polar LNG Express: North American NatGas Dynamics to Change with LNG Canada
2025-02-21 - The next major natural gas export project in North America has a location advantage with Asian markets. LNG Canada opens up a new pathway that will change the price dynamics for producers.
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.