The following information is provided by RedOaks Energy Advisors LLC. All inquiries on the following listings should be directed to RedOaks. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
RRIG Energy retained RedOaks Energy Advisors LLC as its exclusive adviser in connection with the sale of its Midland Basin royalty properties in West Texas.
- 905 Net Royalty Acres across Martin, Howard, Midland, Glasscock and Upton counties, Texas;
- Substantial near-term upside: 36 DUCs | 8 Permits
- 950 undeveloped horizontal locations
- Key Operators: CrownQuest Operating LLC (64%) and Pioneer Natural Resources Co. (33%)
- CrownQuest and Pioneer are currently running 12 rigs in the Midland Basin
Bids are due Sept. 17. The transaction is expected to have a Sept. 1 effective date.
The Railroad Commission of Texas plugged 1,477 abandoned oil and gas wells in fiscal-year 2020, which ended on Aug. 31, exceeding its target for the fourth straight year.
Check out the latest products and services for the upstream oil and gas industry including Schlumberger’s Performance Live digitally connected service that optimizes remote wellsite operations control.
The oil and gas rig count, an early indicator of future output, rose six to 261 in the week to Sep. 25, energy services firm Baker Hughes said in its closely followed report.