MIDLAND MINERAL & ROYALTY SALE
117-Hz PDP Wells. 4,375-NRA
HOWARD & BORDEN COS., TEXAS
Acreage Normalized To 1/8th Royalty
Wolfcamp A, B & Lower Spraberry Fms
34-Hz Spuds In Q1-2022 (136-Annualized).
1.32% Avg NRI In 117-Hz PDPs,
56-DUCs, & 30-Hz Permits.
1.02% Avg NRI In ~478-Undeveloped Locs
NTM Cash Flow: $40,000,000
Additional Secondary Targets Include
Middle Spraberry & Wolfcamp D Fms
With ~400-Hz Undeveloped Locations
CONTACT AGENT FOR MORE INFO
RR 6055PP
| Onshore |
Land Base |
| Unconventional |
Play Type |
TENOAKS ENERGY ADVISORS - CORTEZ RESOURCES LLC; BASIN OIL & GAS LLC
Deal Summary
Update, 23-Aug-2022. The package has been moved to closing section.
Cortez Resources LLC and Basin Opportunity Assets LP (an affiliate of Basin Oil & Gas LLC) have retained TenOaks Energy Advisors to assist in the sale of certain midland basin mineral and royalty assets in Texas.
Highlights:
-- Located primarily in Howard Co., TX and also in Borden Co., TX;
-- Covers 4,375 net royalty acres, normalized to 1/8th or 546.875 net 100% royalty acres;
-- Holds 1.32% average NRI in 117 horizontal PDP wells, 56 horizontal DUCs and 30 horizontal permits;
-- Also holds 1.02% average NRI in ~478 horizontal undeveloped locations (~200 Wolfcamp B, 154 Lower Spraberry, and 124 Wolfcamp A);
-- Additional secondary targets include Middle Spraberry and Wolfcamp D formations with ~400 undeveloped locations;
-- 90 horizontal spuds on position during 2021, 34 horizontal spuds in Q1-2022 (136 annualized), and 8.5 new permits filed each month since Jan-2021;
-- NTM cash flow (effective 1-Jun-2022): $40 million;
-- Operators: Highpeak (seller owns interest in ~80% of the wells in Flat Top area), Laredo, Surge, Bayswater, and Ovintiv.
To learn more contact:
Mr. BJ Brandenberger
Phone: 214-420-2323
Email: bj.brandenberger@tenoaksadvisors.com
