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.
Magnolia Petroleum Co. retained TenOaks Energy Advisors as its exclusive adviser in connection with the sale of certain operated properties in southeast Texas.
Highlights
- Operated assets focused in Polk County, Texas | 100% HBP
- PDP PV10: $23 million | Next 12-month PDP cash flow: $7.5 million
- Low lifting costs ($9.40/boe) backstop strong cash flow margins (>70%)
- Net production: ~450 boe/d (79% oil)
- Production primarily from the Wilcox and Yegua
- >40 quantified upside opportunities that can be funded out of existing cash flow
- RTP / behind-pipe / add-pay / vertical drilling
Bids are due by noon CST on Sept. 30. The transaction is expected to have an Aug. 1 effective date.
A virtual data room will be available starting Aug. 30. For information visit tenoaksenergyadvisors.com or contact Forrest Salge at TenOaks Energy Advisors at 214-420-2327 or Forrest.Salge@tenoaksadvisors.com.
Recommended Reading
US Oil, Gas Rig Count Falls to Lowest Since January 2022
2024-05-03 - The oil and gas rig count, an early indicator of future output, fell by eight to 605 in the week to May 3, in the biggest weekly decline since September 2023.
Pemex Reports Lower 2Q Production and Net Income
2024-05-03 - Mexico’s Pemex reported both lower oil and gas production and a 91% drop in net income in first-quarter 2024, but the company also reduced its total debt to $101.5 billion, executives said during an earnings webcast with analysts.
Chouest Acquires ROV Company ROVOP to Expand Subsea Capabilities
2024-05-02 - With the acquisition of ROVOP, Chouest will have a fleet of more than 100 ROVs.
SLB, OneSubsea, Subsea 7 Sign Collaboration Deal with Equinor
2024-05-02 - Work is expected to begin immediately on Equinor’s Wisting and Bay Du Nord projects.
SilverBow Makes Horseshoe Lateral in Austin Chalk
2024-05-01 - SilverBow Resources’ 8,900-foot lateral was drilled in Live Oak County at the intersection of South Texas’ oil and condensate phases. It's a first in the Chalk.