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.
Felix Energy Holdings II LLC retained TenOaks Energy Advisors LLC for the sale of certain Delaware Basin nonoperated producing properties through an offering closing Oct. 10.
- Nonop Index Fund Across the Delaware Basin
- 2,700 net acres / Loving, Winkler, Ward and Reeves Counties, Texas
- Net production: about 720 barrels of oil equivalent per day (65% oil) from 200 wells
- Last 12-Month net cash flow: $550,000 per month
- 61 spuds since January 2018
- 32 Drilled but Uncompleted Wells / 20 Permits provide near-term growth
- Key Operators Among Delaware Basin leaders
- Mewbourne Oil Co., Callon Petroleum Co., EOG Resources Inc., Royal Dutch Shell Plc and Concho Resources Inc.
- Historical actuals average at or below AFE’s (authority for expenditure) for key operators
EOG Resources plans to test about six oil and gas prospects this year with a focus on adding premium drilling locations while still lowering well costs.
Occidental Petroleum has been aggressively cutting costs by laying off staff and selling assets to pay down its $38.54 billion debt pile following its acquisition of Anadarko Petroleum.
The Houston-based company’s total production rose 11% to 78.2 million barrels of oil equivalent per day for the quarter ended Dec. 31.