The following information is provided by EnergyNet. All inquiries on the following listings should be directed to EnergyNet. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Moutray Properties Working Interests LLC retained EnergyNet for the sale of Permian Basin assets in New Mexico's Eddy and Lea counties through a sealed-bid offering.
- 10.00% to 0.345532% Working Interest / 7.50% to 0.2591494% Net Revenue Interest in 57 Producing Wells
- 4.4684% Working Interest in the Reed Sanderson Unit
- 0.043687% to 0.023794% Tract Net Revenue Interests
- Seven Producing Wells | Four Active Injection Wells
- Six-Month Average 8/8ths Production: 1,070 barrels per day of Oil and 3.604 million cubic feet per day of Gas
- 12-Month Average Net Income: $60,416 per Month
- 673.19 Net Leasehold Acres
- Operators include Cimarex Energy Co., COG Operating LLC, Devon Energy Corp., E.G.L. Resources Inc. and J.R. Oil Co.
Bids are due at 4 p.m. CST Feb. 27. For complete due diligence information visit energynet.com or email Lindsay Ballard, vice president of business development, at Lindsay.Ballard@energynet.com.
The continued strength of the Permian Basin will force smaller oil and gas companies to merge or be acquired by larger competitors, which Gibson Dunn attorneys say is a positive for the industry.
EnergyNet has been retained to handle state and federal oil and gas lease sales across the U.S. including nearly 1 million acres for lease in Wyoming alone.
Contrast that to the S&P 500 over that period, and, “the rest of the market looked pretty easy to make money in. There’s a lot of frustration in the market.”