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Royal Blue Minerals II LP retained RedOaks Energy Advisors LLC as its exclusive adviser in connection with the sale of its Williston Basin minerals position. The interests cover acreage across North Dakota's McKenzie, Williams, Mountrail and Dunn counties.
- 670 Net Royalty Acres (normalized to 1/8th)
- Significant near-term development:
- 35 DUCs | 42 Permits
- 12 spuds on position in third-quarter 2020
- Projected next 12-month cash flow: $1.1 million
- 98 producing horizontal wells
Bids are due Nov. 20. A virtual data room is available.
The oil and gas rig count rose five to 378 in the week to Jan. 22, its highest since May, energy services firm Baker Hughes Co. said.
Ovintiv completes three Spraberry Field producers, a new Eagle Ford Shale discovery by BPX Energy plus results from a Hess Gulf of Mexico venture top this week’s drilling activity highlights from around the world.
Some drilling results, however, show the basin is not without risk for oil and gas exploration companies.