Patriot Royalties Inc., part of Patriot Energy Inc., offered the Patriot-Liberty package of more than 3,125 gross acres of in Brazos County, Texas, the company said March 24.
The Eagle Ford acreage contains eight wells currently producing 40,000 barrels of oil and 13 million cubic feet of gas per month. There are also additional proven undeveloped opportunities, the company said.
Two new wells are currently in the drilling phase.
Houston-based Halcon Resources Corp. (NYSE: HK) operates the property.
Michael Miller, Patriot Energy’s president, said the area primarily produces oil and about 5% natural gas.
Dallas-based Patriot Energy Inc. handles working and royalty interests for private investors.
Recommended Reading
CEO: Linde Not Affected by Latest US Green Subsidies Package Updates
2024-02-07 - Linde CEO Sanjiv Lamba on Feb. 6 said recent updates to U.S. Inflation Reduction Act subsidies for clean energy projects will not affect the company's current projects in the United States.
CERAWeek: Energy Secretary Defends LNG Pause Amid Industry Outcry
2024-03-18 - U.S. Energy Secretary Jennifer Granholm said she expects the review of LNG exports to be in the “rearview mirror” by next year.
Hirs: LNG Plan is a Global Fail
2024-03-13 - Only by expanding U.S. LNG output can we provide the certainty that customers require to build new gas power plants, says Ed Hirs.
NAPE: In Basins Familiar to E&Ps, Lithium Rush Offers Little Gold
2024-02-07 - A quest for sources of lithium comes as the lucrative element is expected to play a part in global efforts to lower emissions, but in many areas the economics are challenging.
Energy Transition in Motion (Week of March 22, 2024)
2024-03-22 - Here is a look at some of this week’s renewable energy news, including a new modeling tool for superhot rock.