MIDLAND BASIN ASSET SALE
226-PDP Wells. 940-NRA.
MINERAL, ROYALTY, & NON-OP
IN TEXAS
Holds Avg 3.2% NON-OPERATED WI
(2.4% NRI) In Additional 43 Acres
88-DSUs. 127-DUCs. 55-Permits, &
580-Undeveloped Locations
Proj Next 24-Mn Net Prod: 423 MBOE
Proj Next 24-Mn Cash Flow: $20,000,000
Net PDP Reserves: 142 MBOE
PDP PV-10: $3,195,000
Net Total Reserves: 2.42 MMBOE
Total PV-10: $51,202,000
PSA Signed
CONTACT AGENT FOR MORE INFO
RR 5182PP
| Onshore |
Land Base |
| Unconventional |
Play Type |
REDOAKS ENERGY ADVISORS - UNDISCLOSED SELLER
Deal Summary
Update, 4-Aug-2021. The PSA has been signed for the package.
RedOaks Energy Advisors has been retained by a private seller to assist in the sale of certain Midland basin mineral, royalty, and non-operated assets in Texas. Offers will be accepted separately for both mineral/royalty and non-operated working interest.
Highlights:
-- Located primarily in Howard Co., and Martin Co., TX and also in Glasscock Co., Upton Co., Reagan Co., Midland Co., Dawson Co., and Borden Co., TX;
-- Covers 940 net royalty acres, normalized to 1/8th or 117.5 net 100% royalty acres (80% Howard, 12% Martin, 4% Glasscock, 3% Upton, ~1% remaining counties);
-- Holds average 3.2% non-operated WI (average 2.4% NRI, weighted average to PV-10) in additional 43 net acres in 2 Birch units;
-- Includes 88 DSUs, 226 horizontal PDP wells, 127 DUCs, 55 permits, and 580 undeveloped locations;
-- 79 spuds during the last 12 months;
-- Net PDP Reserves: 142 MBOE (PV-10: $3.195 million);
-- Net total Reserves: 2.42 MMBOE (~44% undeveloped locations, ~36% DUCs, ~14% permitted, and ~6% PDP, PV-10: $51.202 million);
-- Projected next 24 months net Production (effective 1-Jun-2021): 423 MBOE or ~579.45 BOE/d (87% liquids);
-- Projected next 24 months cash flow (effective 1-Jun-2021): $20 million ( 68% DUCs, 14% permits, 10% undeveloped locations, and 8% PDP);
-- Operators: Birch Resources (operates ~50% of the total PV-10), Oxy, Callon, Pioneer Natural Resources, Ovintiv, and others.
To learn more contact:
Mr. David Carter
Phone: 214-420-2334
Email: david.carter@redoaksadvisors.com
