The following information is provided by TenOaks Energy Advisors LLC. All inquiries on the following listings should be directed to TenOaks. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
CPEP Management LLC retained TenOaks Energy Advisors LLC in connection with the potential sale of certain cash-generating wellbore-only properties located in the Delaware Basin.
CPEP Management is an affiliate of Cross Plains Energy Partners LLC. The assets are located in New Mexico’s Eddy and Lea County.
- Nonoperated working interests in 20 producing horizontal wells in the core of the Delaware Basin (Eddy and Lea County, N.M.)
- Substantial cash flow and production base:
- Next 12-month Net Cash Flow: $19 million
- Projected Net Production: 2,950 boe/d (61% Liquids)
- Minimal administrative costs / burden
- Partnered with well-established Delaware Basin operators—EOG Resources Inc., Marathon Oil Corp., ConocoPhillips Co. (all wells drilled by Concho Resources) and Mewbourne Oil Co.
- High Net Revenue Interest on multiple wells provides opportunity to monetize Overriding Royalty Interest
Bids are due May 20. The transaction is expected to have a June 1 effective date with a purchase and sales agreement targeted by June 10.