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Robinson Minerals has retained RedOaks Energy Advisors as its exclusive adviser in connection with the sale of its minerals located in the core of the Delaware Basin in Loving County, Texas.
- 525 Net Royalty Acres in Loving County, Texas
- 98% located in the State Line Area operated by WPX
- Four Driling Spacing Units (DSUs)
- Established production and Cash Flow from 26 proved developed producing wells
- Significant near-term development:
- Five active permits
- Two active WPX rigs in adjacent units
- Projected 2020 cash flow of about $1.6 million
Bids are due Nov. 20. The virtual data room is open.
As of May 20, the total U.S. rig count is down 28 from last week with the Permian Basin leading the declines with a drop of 17 rigs.
The order was the latest legal blow to U.S. President Donald Trump's effort to increase oil and gas production on federal lands by rolling back environmental regulation.
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