MCM Energy Partners LLC said it recently sold leasehold in Ward and Loving counties, Texas, as the privately-held Permian company continues to pare down its portfolio.
An undisclosed company agreed to acquire MCM Energy Partners’ acreage for $42 million, according to an MCM press release on Jan. 8.
Including the recent sale, MCM Energy Partners said it has sold over 4,800 net acres of operated and nonop leasehold in the Permian’s Midland and Delaware basins during 2018 for more than $90 million. The company will also add to that with the anticipated sale of Midland Basin leasehold for about $20 million expected to close in first-quarter 2019, the release said.
MCM currently owns roughly 1,320 net acres in the core areas of the Midland and Delaware basins, as well as 12,000 contiguous acres in central Pecos County, Texas. The Midland, Texas-based company was founded in 2009 by its CEO, Miles McPherren.
Recommended Reading
Baker Hughes Awarded Saudi Pipeline Technology Contract
2024-04-23 - Baker Hughes will supply centrifugal compressors for Saudi Arabia’s new pipeline system, which aims to increase gas distribution across the kingdom and reduce carbon emissions
Equitrans Midstream Announces Quarterly Dividends
2024-04-23 - Equitrans' dividends will be paid on May 15 to all applicable ETRN shareholders of record at the close of business on May 7.
PrairieSky Adds $6.4MM in Mannville Royalty Interests, Reduces Debt
2024-04-23 - PrairieSky Royalty said the acquisition was funded with excess earnings from the CA$83 million (US$60.75 million) generated from operations.
EQT Declares Quarterly Dividend
2024-04-18 - EQT Corp.’s dividend is payable June 1 to shareholders of record by May 8.
Matador Resources Announces Quarterly Cash Dividend
2024-04-18 - Matador Resources’ dividend is payable on June 7 to shareholders of record by May 17.