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.
- 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.
EnCore Permian Holdings retained TenOaks Energy Advisors for the sale of its Permian Basin mineral portfolio across the Midland and Delaware basins.
Warren American Oil retained TenOaks Energy Advisors as its exclusive adviser in connection with the sale of its operated and nonoperated producing properties in multiple states.
Activist investor Elliott Management offered to buy oil and gas producer QEP Resources in an all-cash deal valued at $2.07 billion, saying that the company is "deeply undervalued."