Capstone Natural Resources II retained TenOaks Energy Advisors for the sale of its operated Central Basin Platform properties in Ector and Upton counties, Texas, within the Permian Basin.
The acquisition, which Ring Energy said closed on Dec. 26, consists of 4,763 net acres in Andrews County, Texas, in the Permian’s Central Basin Platform from a Carlyle Group subsidiary.
Cushing has improved to more than $70/bbl, but WTI Midland has been fetching as much as $10/bbl less. Many Permian producers are using basis hedges to ride out the new-takeaway drought. Some have firm transport directly to export markets. How are Permian producers minding the gap? Listen in as Reed Olmstead, an expert from IHS Markit, provides further insight.
SandRidge Energy’s exit from the Permian’s Central Basin Platform was a part of two recently closed transactions worth a total of roughly $40 million.
Novo Oil & Gas retained Detring Energy Advisors to sell its oil and gas leasehold and related assets located in Ector County, Texas of the Central Basin Platform.
Fivestones Energy retained TenOaks Energy Advisors as its exclusive adviser in connection with the sale of certain operated properties within the Permian’s Central Basin Platform.