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.
Durand Energy Holdings LP has retained TenOaks Energy Advisors as its exclusive adviser in connection with the sale of certain Delaware Basin minerals.
The offer includes a legacy, core Delaware Basin mineral position in Reeves, Ward and Pecos counties, Texas, with a proven track record of rapid development, according to TenOaks.
Asset Highlights
- 3,194 net royalty acres (Reeves, Ward and Pecos counties, Texas)
- Strong development cadence across the position with 46 spuds per year over the last two years
- Recent net cash flow: $330,000 per month (Roughly $4 million annualized)
- Substantial near-term cash flow growth from 36 drilled but uncompleted wells (DUCs) and 28 permits
- Position-controlled by the Delaware Basin’s most active operators
- Seven rigs currently running on Durand’s position
Bids are due Feb. 21. A purchase and sale agreement for the package is targeted to be signed by March 14 with an expected effective date of March 1.
For information visit tenoaksenergyadivsors.com or contact B.J. Brandenberger, partner with TenOaks, at bj.brandenberger@tenoaksadvisors.com or 214-420-2323.
Recommended Reading
ONGC’s M Field Starts Production in Bay of Bengal
2024-01-09 - ONGC’s M Field represents the second phase of the larger 98/2 Block development project which is expected to reach peak production of 45,000 bbl/d and 10 MMcm/d.
Prairie Operating Acquires More D-J Basin Assets for $94.5MM
2024-01-15 - Houston-based Prairie Operating Co. is scaling its D-J Basin footprint with a $94.5 million acquisition of Nickel Road Operating LLC.
Beach Town Corpus Christi Grows into America’s Top Energy Port
2024-01-16 - The Port of Corpus Christi is the U.S.’ largest energy export gateway and in terms of total revenue tonnage as increased midstream investments have opened export markets for the prolific Permian Basin.
Tech Trends: Halliburton’s Carbon Capturing Cement Solution
2024-02-20 - Halliburton’s new CorrosaLock cement solution provides chemical resistance to CO2 and minimizes the impact of cyclic loading on the cement barrier.
To Dawson: EOG, SM Energy, More Aim to Push Midland Heat Map North
2024-02-22 - SM Energy joined Birch Operations, EOG Resources and Callon Petroleum in applying the newest D&C intel to areas north of Midland and Martin counties.