A private seller is selling its Midland Basin oil and gas mineral assets.
The offer includes mineral acreage located in Ector, Glasscock, Martin, Midland, Reagan and Upton counties in West Texas.
The assets offer an opportunity to acquire a large, quality mineral position in the horizontal Wolfcamp and Spraberry development plays, according to Detring Energy Advisors, which is handling the sale.
Highlights:
- 4,756 net mineral acres;
- 18% average royalty (100% HBP);
- Assets include about 2,400 active wells and about 90 active horizontal permits;
- Net production is about 150 barrels of oil equivalent per day;
- Cash flow was $1.4 million for the last 12 months;
- Top operators include Pioneer Natural Resources Co. (NYSE: PXD), Concho Resources Inc. (NYSE: CXO), Laredo Petroleum Inc. (NYSE: LPI) and Endeavor Energy Resources LP;
- More than 2,000 feet of gross interval across the prolific Wolfcamp and Spraberry horizons, Detring said; and
- In-place volumes in excess of 150 million barrels of oil per section.
Bids are due by Oct. 26. Data room presentations are available upon request.
For information visit detring.com or contact Melinda Faust, director with Detring, at 713-907-2003.
Recommended Reading
Aramco Credits Adaptability, Collaboration for Driving Innovation
2024-05-15 - Aramco’s implementation of different approaches has led to the creation and commercialization of newer products, said Max Deffenbaugh, principal scientist for Aramco, at the 2024 Offshore Technology Conference in Houston.
Message in a Bottle: Tracing Production from Zone to Wellhead
2024-04-30 - New tracers by RESMAN Energy Technology enable measurement while a well is still producing.
Quantum Capital’s View on AI: Lots of Benefits, Pain Points
2024-05-16 - The energy industry is lagging in the race to implement AI, but Sebastian Gass, CTO of Quantum Capital Group, offered a few solutions during Hart Energy’s 2024 SUPER DUG Conference & Expo.
E&P Highlights: June 10, 2024
2024-06-10 - Here’s a roundup of the latest E&P headlines, including a decline in global drilling activity and new contract awards.
OTC: E&Ps Improving Operational Safety with Digitization
2024-05-13 - Artificial intelligence and the digitization of the oilfield have allowed for several improvements in keeping operators out of harm’s way, panelists said during the 2024 Offshore Technology Conference.