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
Daniel Rice, former CEO of Rice Energy who now sits on the EQT board, addressed the elephant in the room earlier this month at Hart Energy’s Energy Capital Conference.
Former Enron Corp. CEO Jeffrey Skilling has been holding meetings, hoping to win backing for a new energy venture, the Wall Street Journal reported citing unnamed sources.
During the last two years, many observers have suggested that consolidation is needed in the upstream oil and gas industry. However, the expected wave keeps not happening despite the logic behind the rationale.