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A private seller has retained RedOaks Energy Advisors LLC as its exclusive adviser in connection with the sale of a Texas diversified mineral package in the Eagle Ford Shale, Permian Basin and Haynesville Shale plays.
- 1,363 Net Royalty Acres (normalized to 1/8th)
- Eagle Ford: 1,029 Net Royalty Acres
- Haynesville: 173 Net Royalty Acres
- Permian Basin: 161 Net Royalty Acres
- 485 horizontal producing wells
- 2021 projected cash flow: about $84,000 / month
- PDP PV-10: $2.2 million
- Significant near term development: 11 DUCs | 25 Permits
- Key Operators: Trinity Operating, EOG Resources Inc., Apache Corp., Marathon Oil Corp. and SM Energy Co.
Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, took aim at U.S. shale producers following the OPEC+ meeting on March 4, saying: “‘Drill, baby, drill’ is gone forever.”
Oil rigs rose one to 310 this week, their highest since May, while gas rigs were unchanged at 92.
Wolfcamp Shale producers completed by Chevron and EOG Resources in the Permian Basin plus details on exploratory wells at LLOG Exploration’s Spruance prospect in the Gulf of Mexico top this week’s oil and gas drilling activity highlights from around the world.