Platform Minerals

Transaction Type
Sellers
Marketers
Basin
Permian Basin; Midland Basin; Delaware Basin
Post Date
Close Date
Room Opening Date
Estimated Price
MM
Description

Platform Minerals is offering for sale certain minerals and royalties in the Permian Basin. The company retained TenOaks Energy Advisors LLC as its exclusive adviser in connection with the transaction.

Asset Highlights

  • Diversified Portfolio of Minerals Across the Permian Basin
    • 5,623 Net Royalty Acres
      • 1,837 NRA in the Delaware Basin (Reeves, Loving, Lea, Winkler, Ward, Pecos)
      • 3,786 NRA in the Midland Basin (Howard, Martin, Midland, Glasscock, Reagan, Upton, Borden)
    • Platform will entertain separate offers for the Midland and Delaware Basin properties
  • Cash Flow is Building from the Remarkable Level of Activity
    • August 2018 – December 2018 projected monthly cash flow (PDPs, DUCs, Permits): ~$460,000/month
    • 2018 Annualized cash flow: ~$5.5 million (253 producing horizontal wells)
    • 244 wells spud in last 24 months on the position
    • Significant near-term growth from 140 DUCs / 159 permits

Bids are due July 10. For information visit tenoaksenergyadvisors.com or contact Lindsay Sherrer, TenOaks partner, at lindsay.sherrer@tenoaksadvisors.com or 214-420-2324. For a copy of the CA contact Trey Bonvino, an associate with TenOaks, at trey.bonvino@tenoaksadvisors.com or 214-420-2331.