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.
An affiliate of Admiral Permian Resources LLC retained TenOaks Energy Advisors LLC as its exclusive adviser for the sale of certain minerals located in the Delaware Basin through an offering closing Nov. 21.
- Focused position on the Reeves/Culberson County line in West Texas
- APR Operating LLC, an affiliate of Admiral Permian Resources, operates 100% of the minerals
- 1,078 Net Royalty Acres across 16 established units (12,351 unit acres)
- 30 horizontal wells producing from the WFC A and WFC B
- Trailing 12-Month Cash Flow: $1.4 million | Impactful drilling obligations will accelerate cash flow growth
- APR has delineated both the WFC A and WFC B across the position and is realizing strong economics
In addition, PDC Energy said May 6 it paid off the Great Western Petroleum secured credit facility totaling $235 million and $312 million in principal amount of Great Western’s 12% senior secured notes due 2025.
The transactions with the undisclosed buyers are expected to close within the next 45 days, the company said in a news release.
Permian operators turn to the edge of the play.