TEXAS MINERAL & ROYALTY SALE
808-Hz PDP Wells. 7,503-NRA.
MIDLAND & DELAWARE BASINS
MARTIN, MIDLAND, GLASSCOCK,
HOWARD, REEVES, CULBERSON COS.
Lower Spraberry, Wolfcamp A, B, C &
2nd / 3rd Bone Spring Formations
115-DUCs. 141-Permits. 3,886-Locations
200-Hz Spuds As Of 16-May-2022
NTM Cash Flow: $32,000,000
BIDS ARE DUE ON JULY 28, 2022
PP 5388DV
| Onshore |
Land Base |
| Unconventional |
Play Type |
TENOAKS ENERGY ADVISORS - UNDISCLOSED SELLER
Deal Summary
TenOaks Energy Advisors has been retained by a Private Seller to assist in the sale of Permian basin mineral and royalty assets in Texas.
Highlights:
-- Located in Midland basin in Martin Co., Midland Co., Glasscock Co. and Howard Co., TX and Delaware basin in Reeves Co. and Culberson Co., TX;
-- Covers 7,503 net royalty acres, normalized to 1/8th or 937.875 net 100% royalty acres (~63% Midland and ~37% Delaware);
-- Includes 808 horizontal PDP wells, 115 DUCs, 141 permits, 3,886 locations and 11 rigs on position;
-- Targets Lower Spraberry, Wolfcamp A, Wolfcamp B, Wolfcamp C and 2nd/3rd Bone Spring formations;
-- 149 horizontal spuds (125 Midland and 24 Delaware) on position during 2021 and 200 horizontal spuds (173 Midland and 27 Delaware) as of 16-May-2022;
-- NTM cash flow: $32 million (~69% Midland and ~31% Delaware);
-- Includes ~20 years of development inventory and multiple proven benches with low breakeven economics;
-- Operators: Pioneer, PetroLegacy, Endeavor, Element Petroleum in Midland and EOG, Patriot Resources, Oxy, Diamondback in Delaware.
To learn more contact:
Mr. BJ Brandenberger
Phone: 214-420-2323
Email: bj.brandenberger@tenoaksadvisors.com
