The following information is provided by TenOaks Energy Advisors LLC. All inquiries on the following listings should be directed to TenOaks. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Toledo Energy Partners has retained TenOaks Energy Advisors as its exclusive adviser in connection with the sale of its Delaware Basin royalty position.
Asset Highlights:
- 1,238 Net Royalty Acres (Reeves and Ward Counties)
- Operated by Concho and Noble (two rigs running on Toledo’s position)
- 17 producing horizontals / strong development track record with 13 spuds on the position over the last 12 months
- Significant near-term cash flow growth from 12 DUCs and four permits
- Continuous development provisions in most of the leases will drive consistent cash flow generation
Offers are due Oct. 4. The transaction is expected to have an effective date of Sept. 1 with a purchase and sale agreement signed by Oct. 23.
Contact Forrest Salge at forrest.salge@tenoaksadvisors.com for a copy of the confidentiality agreement.
For more information visit tenoaksadvisors.com or contact B.J. Brandenberger, partner of TenOaks, at bj.brandenberger@tenoaksadvisors.com or 214-420-2323.
Recommended Reading
Novo II Reloads, Aims for Delaware Deals After $1.5B Exit Last Year
2024-04-24 - After Novo I sold its Delaware Basin position for $1.5 billion last year, Novo Oil & Gas II is reloading with EnCap backing and aiming for more Delaware deals.
Enverus: 1Q Upstream Deals Hit $51B, but Consolidation is Slowing
2024-04-23 - Oil and gas dealmaking continued at a high clip in the first quarter, especially in the Permian Basin. But a thinning list of potential takeout targets, and an invigorated Federal Trade Commission, are chilling the red-hot M&A market.
EIA: Permian, Bakken Associated Gas Growth Pressures NatGas Producers
2024-04-18 - Near-record associated gas volumes from U.S. oil basins continue to put pressure on dry gas producers, which are curtailing output and cutting rigs.
Benchmark Closes Anadarko Deal, Hunts for More M&A
2024-04-17 - Benchmark Energy II closed a $145 million acquisition of western Anadarko Basin assets—and the company is hunting for more low-decline, mature assets to acquire.
‘Monster’ Gas: Aethon’s 16,000-foot Dive in Haynesville West
2024-04-09 - Aethon Energy’s COO described challenges in the far western Haynesville stepout, while other operators opened their books on the latest in the legacy Haynesville at Hart Energy’s DUG GAS+ Conference and Expo in Shreveport, Louisiana.