The following information is provided by Oil & Gas Asset Clearinghouse LLC. All inquiries on the following listings should be directed to Clearinghouse. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
MGM Oil & Gas Co. retained Oil & Gas Asset Clearinghouse LLC for the sale of an operated Permian Basin asset in West Texas thought an offering closing July 10.
The offer comprises 12 operated wells in Glasscock County, Texas, that Clearinghouse said includes major upgrades in 2018 including new pumps, tubing, surface manifolds, field-wide controls and disposal well capacities. The firm added that the field averaged a net $20,000 per month last year and is primed for long-term consistent positive cash flow.
- 100% working interest and 75% net revenue interest
- 520 acres on the three leases
- Three saltwater disposal wells
- 49 net barrels per day of oil
- Depths available – surface to the base of the San Andres
- $650,000 in 2018 Capex upgrades
- 12-month average cash flow roughly $15,750