Red Stone Resources LLC is offering mineral and leasehold assets located throughout the core of the Stack/Scoop/Merge plays in Oklahoma through a sale handled by Detring Energy Advisors.
The offer consists of a large position with Mississippian, Woodford and Springer stacked-pay potential. Key counties include Blaine, Kingfisher, Canadian and McClain counties, Okla.
- About 6,000 net royalty acres;
- Average 20 net royalty acres per section;
- Roughly 40% of sections have recent activity, Detring said;
- About 4,000 leasehold acres;
- Average 40 net acres per section;
- Participating in nine wells currently (majority two-mile laterals);
- Large position with 80 horizontal rigs currently running proximate to acreage, Detring said;
- Mississippian (Meramec/Osage/Sycamore), Woodford and Springer stacked-pay offers more than 1 million barrels of oil equivalent EUR’s across the properties;
- Operators include Devon Energy Corp. (NYSE: DVN), Cimarex Energy Co. (NYSE: XEC), Continental Resources Inc. (NYSE: CLR), Newfield Exploration Co. (NYSE: NFX).
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