MIDLAND BASIN ROYALTY ASSETS
706-Net Royalty Acres. 7,864-Gross Acres
MARTIN COUNTY, TEXAS
177-Horizontal Producing Wells
Targets Jo Mill, Middle/Lower Spraberry,
Dean, And Wolfcamp A/B Formations
Includes 15-DUCs & 20-DSUs
Also 185-Undeveloped Locations.
Holds Avg ~0.74% NRI Per PDP/DUC Well
Net (PDP + DUC) Production: 432 BOED
NTM PDP Cash Flow: $7,200,000
PV-10 (Undeveloped Locs): $17,600,000
Operator Targets ~30 Wells/Section
BIDS ARE DUE NOVEMBER 17, 2022
RR 5959DV
| Onshore |
Land Base |
| Unconventional |
Play Type |
TENOAKS ENERGY ADVISORS - UNDISCLOSED SELLER
Deal Summary
TenOaks Energy Advisors has been retained by an Undisclosed seller to assist in the sale of certain Midland Basin mineral and royalty assets in Texas.
Highlights:
-- Located in Martin Co., TX;
-- Covers 706 net royalty acres across 7,864 gross acres and 20 DSUs;
-- Holds average ~0.74% NRI per PDP/DUC well;
-- Includes 177 horizontal producing wells;
-- Also includes 15 DUCs (0.8% NRI), and 185 undeveloped locations;
-- Targets the Jo Mill, Middle/Lower Spraberry, Dean, and Wolfcamp A/B formations;
-- Net (PDP + DUC) Production (Jan-2023 projected): 432 BOE/d (81% liquids);
-- NTM PDP cash flow: $7.2 million;
-- Net (PDP + DUC) PV-10: $19.5 million;
-- PV-10 (undeveloped locations): $17.6 million
-- Position is controlled by top-tier operators who are running a combined 41 rigs in the Midland Basin (12 in Martin County);
-- Operators have entered manufacturing mode through pad development and are targeting upwards of ~30 wells/section across multiple zones in Martin County;
-- Operators: Exxon, Pioneer Natural Resources, and Diamondback Energy.
To learn more contact:
Mr. BJ Brandenberger
Phone: 214-420-2323
Email: bj.brandenberger@tenoaksadvisors.com
