PBEX LLC is selling certain leasehold assets in Upton County, Texas, in a mid-value negotiated express transaction.
The Oil & Gas Asset Clearinghouse is the exclusive technical, marketing and transaction advisor for PBEX, based in Midland, Texas.
Highlights:
- Upton Prospect—Block B2 and Block A;
- 981 gross (883 net) leasehold acres;
- Delivering 77.5% net revenue interest;
- Lease expiration June 2016 with two-year option to extend;
- Devonian and Wolfcamp development; and
- Area operators include Apache Corp. (NYSE: APA), Pioneer Natural Resources Co. (NYSE: PXD) and ConocoPhillips (NYSE: COP).
Bids are due May 21. The sale will have an effective date of June 1.
An electronic data room is open at ogclearinghouse.com.
For information contact Lynn McMaster, executive assistant at Clearinghouse, at 832-601-7636.
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