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.
Ventana Partners LP retained RedOaks Energy Advisors as its exclusive adviser in connection with the sale of nonoperated properties located primarily in the Delaware Basin.
The offer includes interest in Permian Basin assets operated by EOG Resources Inc. and Occidental Petroleum Corp. RedOaks said that other nonoperated conventional assets are also included in the package.
- Lea County, N.M. – Three EOG Operated Units
- 3,200 gross acres
- Ventana owns: about 1% average Working Interest
- 24 Horizontal Proved Developed Producing (PDP) wells
- Near term development:
- Two drilled but uncompleted wells (DUCs)
- Five Permits
- Lea County, N.M. – Occidental Petroleum Foxglove Unit
- About 3.2% Overriding Royalty Interest
- 600 gross acres
- Four Horizontal PDP wells
The ruling by Justice Barry Ostrager in Manhattan Supreme Court followed a trial featuring testimony from investors, experts and former Exxon Mobil CEO Rex Tillerson.
The second-largest U.S. oil company also said it will reduce funding to the various gas-related opportunities.
The JV partnership is the second Devon Energy has formed with Dow in recent years as E&Ps are increasingly left with fewer capital options.