Maxus Energy Corp., a U.S.-based subsidiary of Argentina’s state-owned YPF SA, is selling its overriding royalty interests (ORRI) in more than 3,500 wells across five states in a sealed-bid offering handled by EnergyNet.
The assets are located in Oklahoma, Texas, Louisiana, New Mexico and Wyoming. Operators include Apache Corp. (NYSE: APA), BP Plc (NYSE: BP) and XTO Energy Inc., among others.
The assets recently averaged more than $125,000 in monthly net income, according to EnergyNet.
- About 0.000011% to 7.45% ORRI in more than 3,500 wells;
- 10-month average net income of $125,563 per month;
- Six-month average 8/8ths production is 191.907 million cubic feet per day and 5,496 barrels per day of oil; and
- Operators are comprised of Apache, BP America Production Co., Burlington Resources O&G Co. LP, Chevron U.S.A. Inc., Cimarex Energy Co. (NYSE: XEC), Citation Oil & Gas Corp., ConocoPhillips Co. (NYSE: COP), Continental Resources Inc. (NYSE: CLR), Devon Energy Corp. (NYSE: DVN), EOG Resources Inc. (NYSE: EOG), Exxcel Production Co., Hilcorp Energy Co. Inc., Marathon Oil Co., Newfield Exploration Mid-Continent, Noble Energy Inc. (NYSE: NBL), Samson Lone Star LLC, Unit Petroleum Co. and XTO Energy.
Maxus Energy filed for bankruptcy protection in June 2016.
Bids are due at 4 p.m. CT March 2. For information visit energynet.com or contact EnergyNet’s Cody Felton at 281-221-3042.
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