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 has retained RedOaks Energy Advisors as the exclusive adviser in connection with the sale of certain nonoperated working interest properties located in the Midland Basin.
The offering comprises a significant acreage footprint with strong near-term cash flow, RedOaks said. The working interest is concentrated in Howard, Reagan and Upton counties, Texas. Primary operators include SM Energy Co. and an affiliate of Houston-based Riverbend Energy Group.
- 918 net acres
- 51 producing horizontal wells
- Near-term development: Eight DUCs | Three Permits | 82 quantified upside locations
- NTM Forecasted net cash flow: $1.7 million
- Total PV-10: $16.8 million
- Primary operators: SM Energy and RP Operating (Riverbend)
Bids are due on Feb. 24. The transaction is expected to have a Feb. 1 effective date.
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