Marketed: Operated Permian Basin Asset, Glasscock County, Texas

Transaction Type
Sellers
Marketers
Basin
Permian Basin
Announce Date
Post Date
Close Date
Room Opening Date
Estimated Price
0MM
Description

The following information is provided by Oil & Gas Asset Clearinghouse LLC. All inquiries on the following listings should be directed to Clearinghouse. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.

MGM Oil & Gas Co. retained Oil & Gas Asset Clearinghouse LLC for the sale of an operated Permian Basin asset in West Texas thought an offering closing July 10.

The offer comprises 12 operated wells in Glasscock County, Texas, that Clearinghouse said includes major upgrades in 2018 including new pumps, tubing, surface manifolds, field-wide controls and disposal well capacities. The firm added that the field averaged a net $20,000 per month last year and is primed for long-term consistent positive cash flow.

Highlights:

  • 100% working interest and 75% net revenue interest
  • 520 acres on the three leases
  • Three saltwater disposal wells
  • 49 net barrels per day of oil
  • Depths available – surface to the base of the San Andres
  • $650,000 in 2018 Capex upgrades
  • 12-month average cash flow roughly $15,750

For information visit ogclearinghouse.com or contact Patrick DaPra, vice president of negotiated transactions for Clearinghouse, at pdapra@ogclearinghouse.com or 832-601-7655.

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