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
Costs for Dominion’s 2.6-GW Offshore Wind Project Swell to $10.7B
2025-02-03 - With 176 turbines, Dominion Energy’s Coastal Virginia Offshore Wind has seen costs rise by about $900 million, or 9%, the company said.
Energy Transition in Motion (Week of March 14, 2025)
2025-03-14 - Here is a look at some of this week’s renewable energy news, including a record-breaking year for solar capacity additions.
Geothermal Player Ormat Adds Capacity as Power Demand Rises
2025-02-28 - Ormat aims to grow its installed capacity to between 2.6 and 2.8 gigawatts by the end of 2028, CEO says.
Norges Bank Acquires $1.5B Stake in North Sea Wind Projects
2025-03-31 - Norges Bank’s deal with RWE includes the Nordseecluster wind farm in the German North Sea and the Thor wind farm in the Danish North Sea.
Energy Transition in Motion (Week of April 11, 2025)
2025-04-11 - Here is a look at some of this week’s renewable energy news.