The following information is provided by Oil & Gas Asset Clearinghouse LLC. All inquiries on the following listings should be directed to Clearinghouse. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
MGM Oil & Gas Co. retained Oil & Gas Asset Clearinghouse LLC for the sale of an operated Permian Basin asset in West Texas thought an offering closing July 10.
The offer comprises 12 operated wells in Glasscock County, Texas, that Clearinghouse said includes major upgrades in 2018 including new pumps, tubing, surface manifolds, field-wide controls and disposal well capacities. The firm added that the field averaged a net $20,000 per month last year and is primed for long-term consistent positive cash flow.
- 100% working interest and 75% net revenue interest
- 520 acres on the three leases
- Three saltwater disposal wells
- 49 net barrels per day of oil
- Depths available – surface to the base of the San Andres
- $650,000 in 2018 Capex upgrades
- 12-month average cash flow roughly $15,750
2022-05-19 - Employment in the U.S. oil and gas industry is set to expand by 12.5% this year, a Rystad report shows.
2022-05-19 - New asset management brand combines Alerian, S-Network Global Indexes, ETF Trends and ETF Database.
2022-05-19 - The $7 billion “merger of equals transaction” of Centennial Resource Developement and Colgate Energy will create the largest pure-play E&P company in the Delaware Basin of the Permian.
2022-05-19 - The flight of capital from the E&P space is among the limiting factors keeping the U.S. from responding to the growing global demand for crude and natural gas, VTX Energy CEO Gene Shepherd told DUG Permian and Eagle Ford attendees.
2022-05-18 - Research by DNV revealed that energy professionals believe that cyberattacks on the industry are likely to cause harm to life, property and the environment in the next two years.