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.
A private seller retained RedOaks Energy Advisors LLC as its exclusive adviser in connection with the sale of its royalty, mineral and nonoperated working interest properties in the Midland Basin in West Texas.
Highlights:
- 940 Net Royalty Acres in the Midland Basin (Primarily Martin and Howard counties)
- 43 net acres (working interest) in two Birch Resources units
- High-quality mineral and royalty position under top basin operators: Birch Resources LLC, Occidental Petroleum Corp., Callon Petroleum Co. and Pioneer Natural Resources Co.
- Next 24 months projected cash flow: $20 million
- Significant near-term cash flow: 127 DUCs | 55 Permits
- Sizeable inventory of drilling locations targeting delineated benches
Bids are due July 20. The transaction is expected to have a June 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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