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Merrion Oil & Gas Corp. retained EnergyNet for the sale of overriding royalty interest (ORRI) package in the Permian Basin through a sealed-bid offering closing March 10.
The offer includes ORRI in producing horizontal Bone Spring wells operated by Matador Resources Co. in the Antelope Ridge Field in New Mexico's Lea County.
- 5.69625% to 0.36978% ORRI in Nine Producing Horizontal Wells:
- Two First Bone Spring Wells | Two Second Bone Spring Wells | Five Third Bone Spring Wells
- Six-Month Average Net Income: $89,518 per Month
- Current Average Net Production: 93 barrels per day of Oil and 133,000 cubic feet per day of Gas
- Current Average 8/8ths Production: 4,633 bbl/d of Oil and 6.308 million cubic feet per day of Gas
- Operator: Matador Resources
Bids are due by 5 p.m. CST March 10. For complete due diligence information visit energynet.com or email Ryan P. Dobbs, vice president of business development, at Ryan.Dobbs@energynet.com, or Denna Arias, vice president of corporate development, at Denna.Arias@energynet.com.
Percussion Petroleum II will pursue the same acquisition and development strategy as its predecessor, which sold its position in the Permian Basin’s Northwest Shelf to Spur Energy Partners in mid-2019.
Three oil and gas technology firms have joined forces to offer the global oil and gas industry an integrated and boundary-pushing approach to well lifecycle integrity and production optimization.
Nine Energy Service Inc. said that Clinton Roeder, senior vice president and CFO has departed the company by mutual consent effective on March 31.