Hunt Oil Co. was a pioneer in the East Texas oil field: Wildcatter H.L Hunt acquired the Daisy Bradford No. 3 well from J.M. “Dad” Joiner near Kilgore, Texas (pictured), in 1930. (Source: Shutterstock, Hunt Oil)
Hunt Oil Co., among the nation’s oldest family-owned oil companies, is offering to sell a multi-basin minerals and royalties portfolio.
Marketed by TenOaks Energy Advisors, the package includes interests in the Denver-Julesburg (D-J) Basin, the Permian and Uinta basins, the Midcontinent and East Texas, according to marketing materials.
Production attributed to the marketed assets averages approximately 700 boe/d, 49% liquids.
D-J Basin
The Hunt Oil package is primarily weighted toward the Rockies; about 60% of cash flow generated by the assets over the next 12 months will come from the D-J Basin.
The D-J portion includes 1,416 net royalty acres in the Wattenberg Field of Weld County, Colorado—the epicenter of oil and gas drilling activity in the D-J Basin. Chevron Corp., Occidental Petroleum, Civitas Resources and Verdad Resources are listed as operators of the D-J asset.
The D-J assets are expected to generate around $6 million in cash flow over the next year, anchored by line-of-sight wells coming online.
The position has seen 144 wells spud since the beginning of 2023, per the marketing materials.
Midcontinent
Hunt Oil is marketing nearly 18,000 net royalty acres in the Midcontinent, including the SCOOP, STACK, Arkoma and Western Anadarko basins.
Operators for the Midcontinent assets include Exxon Mobil, Ovintiv Inc. and NextEra Energy.
East Texas
The package includes 2,036 net royalty acres across four counties in East Texas and existing development from Haynesville producers. Comstock Resources and Sabine Oil & Gas are operators on the assets.
Central Basin Platform
Hunt Oil, which traces its roots to wildcatter H.L. Hunt and the discovery of the East Texas oil field in the 1930s, is also marketing interests in the Permian’s Central Basin Platform.
The package includes non-participating royalty interests in Exxon’s Means Unit in Andrews County, Texas, where Exxon conducts EOR operations.
Exxon originally discovered the Means Field in the 1930s, and the Means unit has seen activity by the supermajor every year since 2010.
Western Uinta
The Hunt Oil package also includes 587 net royalty acres across the emerging western Uinta Basin in Utah.
Uinta operators include XCL Resources and Crescent Energy.
RELATED
Hart Energy’s 50th Anniversary Hall of Fame: Hunt Family
Recommended Reading
Baker Hughes Wins Contracts for Woodside’s Louisiana LNG Project
2024-12-30 - Bechtel has ordered gas technology equipment from Baker Hughes for the first phase of Woodside Energy Group’s Louisiana LNG development.
SM Energy Adds Petroleum Engineer Ashwin Venkatraman to Board
2024-12-04 - SM Energy Co. has appointed Ashwin Venkatraman to its board of directors as an independent director and member of the audit committee.
BP Profit Falls On Weak Oil Prices, May Slow Share Buybacks
2024-10-30 - Despite a drop in profit due to weak oil prices, BP reported strong results from its U.S. shale segment and new momentum in the Gulf of Mexico.
Chevron Names Laura Lane as VP, Chief Corporate Affairs Officer
2025-01-13 - Laura Lane will succeed Al Williams in overseeing Chevron Corp.’s government affairs, communication and social investment activities.
Plains All American Prices First M&A Bond of Year
2025-01-13 - U.S. integrated midstream infrastructure company Plains All American Pipeline on Jan. 13 priced a $1 billion investment-grade bond offering, the year's first to finance an acquisition.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.