The following information is provided by Meagher Energy Advisors. All inquiries on the following listings should be directed to Meagher. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Cimarex Energy Co. is considering the sale of certain Midcontinent oil and gas properties and related infrastructure in Oklahoma and Texas and has engaged Meagher Energy Advisors Inc. as its exclusive financial and technical adviser.
- Opportunity to acquire shallow decline, diversified assets comprised of predominantly operated vertical gas wells
- Long life assets with 192 Bcfe in PDP reserves representing an 11-year R/P ratio
- Trailing 12-Month average net production of 47.8 MMcfe/d (75% Gas)
- Estimated January operating EBITDA of $2.04 million and 2021 forecast total cashflow of $23.1 million
- Two gas processing plants and associated gathering systems with an estimated January EBITDA of $401,389 and 2021 forecast total cashflow of $6.5 million
- Over 200,000 net leasehold acres and more than 4,000 net mineral acres
2023-12-18 - As Occidental spends $12 billion to add scale in the Midland Basin, analysts wonder if the E&P will divest assets in the Gulf of Mexico, the Rockies or other parts of its portfolio.
2024-02-21 - Occidental CEO Vicki Hollub said plans to divest non-core Permian assets would come after closing the pending acquisition of CrownRock — but reports have since emerged that the company is considering selling its share of Western Midstream Partners, valued at about $20 billion, according to Reuters.
2023-12-11 - Occidental Petroleum said the purchase of CrownRock includes 1,700 undeveloped locations, 750 of which break even at prices of less than $40/bbl of WTI.
2023-12-18 - A land grab for top-quality drilling locations fueled record Permian Basin M&A activity in 2023. To preserve inventory, E&Ps are radically slashing drilling activity on their new assets, East Daley Analytics reports.
2024-02-12 - The tie-up between Diamondback Energy and Endeavor Energy—two of the Permian’s top oil producers—is expected to create a new “super-independent” E&P with a market value north of $50 billion.