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Starboard Permian Resources LLC and Max Permian LLC retained RedOaks Energy Advisors LLC as the exclusive adviser in connection with the sale of certain leasehold in New Mexico’s Lea County within the Northern Delaware Basin.
- 599 net acres in the Northern Delaware Basin
- No near-term expirations (June 2023 earliest expiration)
- 12 existing APDs in place
- 7 active rigs running immediately offset position
- Opportunity for operational control in certain DSUs
- 42 quantified drilling locations
- Average IRR per well: 55%
- Average EUR per well: 1.3 MMboe (83% oil)
Bids are due April 29. The transaction is expected to have a May 1 effective date.
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