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.
Wolfbone Minerals LLC has retained TenOaks Energy Advisors LLC for the sale of its Delaware Basin mineral portfolio through an offering closing Oct. 2.
The offering comprises mineral and royalty interests in Reeves and Pecos counties, Texas.
- 2,122 net royalty acres / material exposure to core Delaware Basin
- Next 12 Months API cash flow of $2.3 million
- 130 producers / 18 drilled but uncompleted wells / 10 permits (34 spuds expected in 2019)
- Over $318 million in undiscounted cash flow potential
- Delineated upside from multiple benches
- Operators include Patriot Resources, Occidental Petroleum Corp., Concho Resources Inc. and Noble Energy Inc.
Devon Energy had been actively shopping the Permian Basin assets, and others in the Rockies, the past several months.
Production from Occidental Petroleum's Permian Basin unit rose 57% to 250,000 boe/d in the fourth quarter, boosted by its investments in the basin.
A big crowd turned out for an afternoon honoring industry leaders representing all facets of the energy sector.