The following information is provided by EnergyNet. All inquiries on the following listings should be directed to EnergyNet. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
C. W. Bolin Properties Ltd. retained EnergyNet for the sale of oil and gas properties located across New Mexico, Oklahoma and Texas through an auction closing May 29.
The offer comprises interest in over 227 properties plus leasehold in various counties. The sale includes nonoperated working interest, overriding royalty interest (ORRI) and mineral/royalty interest.
Highlights:
- Nonoperated Working Interest in 103 Properties:
- 29.66733% to 0.258338% Working Interest / 24.474996% to 0.211918% Net Revenue Interest
- An Additional 0.3937% to 0.0248% ORRI in 12 Properties
- An Additional 0.001303% Royalty Interest in Two Properties
- 95 Producing Properties | One Saltwater Disposal | Seven Non-Producing Properties
- ORRI in 117 Properties:
- 7.50% to 0.013426% ORRI
- An Additional 0.007816% Royalty Interest in Two Properties
- 60 Producing Properties | 55 Non-Producing Properties | Two Temporarily Abandoned Properties
- Royalty Interest in Seven Producing Properties:
- 2.723644% to 0.000027% Royalty Interest
- Six-Month Average 8/8ths Production: 43.960 million cubic feet per day of Gas and 852 barrels per day of Oil
- Six-Month Average Net Income: $44,011 per Month
- 528.07 Net Leasehold Acres
- 483.08 Net HBP Leasehold Acres
- 44.99 Net Non-Producing Leasehold Acres
- 11.40 Net Producing Mineral Acres
- Select Operators include Crown Energy Co., Epic Energy LLC, Hilcorp Energy Co. Inc., Marathon Oil Corp. and Territory Resources LLC
Bids are due by 2:25 p.m. CDT May 29. For complete due diligence information energynet.com or email Michael Baker, vice president of business development, at Michael.Baker@energynet.com, or Denna Arias, director of transaction management, at Denna.Arias@energynet.com.
Recommended Reading
BP’s Kate Thomson Promoted to CFO, Joins Board
2024-02-05 - Before becoming BP’s interim CFO in September 2023, Kate Thomson served as senior vice president of finance for production and operations.
Magnolia Oil & Gas Hikes Quarterly Cash Dividend by 13%
2024-02-05 - Magnolia’s dividend will rise 13% to $0.13 per share, the company said.
TPG Adds Lebovitz as Head of Infrastructure for Climate Investing Platform
2024-02-07 - TPG Rise Climate was launched in 2021 to make investments across asset classes in climate solutions globally.
Air Products Sees $15B Hydrogen, Energy Transition Project Backlog
2024-02-07 - Pennsylvania-headquartered Air Products has eight hydrogen projects underway and is targeting an IRR of more than 10%.
HighPeak Energy Authorizes First Share Buyback Since Founding
2024-02-06 - Along with a $75 million share repurchase program, Midland Basin operator HighPeak Energy’s board also increased its quarterly dividend.