The following information is provided by RedOaks Energy Advisors LLC. All inquiries on the following listings should be directed to RedOaks. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Grey Rock Bobcat LLC has retained RedOaks Energy Advisors LLC as its exclusive advisor in connection with the sale of certain nonoperated working interest properties in the Midland Basin. The properties being offered are located in Martin and Midland counties, Texas, and operated by Diamondback Energy Inc. and Callon Petroleum Co.
Highlights:
- ~ 190 acres across 3 DSUs in the core of the Midland Basin (Martin and Midland counties)
- Operators: Diamondback Energy and Callon Petroleum
- High interest ownership across all 3 DSUs (Average 11% Working Interest / 8.25% Net Revenue Interest)
- PDP PV-10: $25 million
- Next 12-months projected cash flow: $10 million
- Significant near term development:
- 9 DUCs (projected to come online May 2021)
- 23 quantified drillable locations
Bids are due April 22. The transaction is expected to have an April 1 effective date.
A virtual data room is available. For information visit redoaksenergyadvisors.com or contact Will McDonald, associate of RedOaks, at Will.McDonald@redoaksadvisors.com or 214-420-2338.
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