Blackwell BMC LLC is offering for sale certain assets in the Texoma Region in Grayson County, Texas.
The offer includes nonoperated working and net revenue interests in 86 active wells in the Big Mineral Creek Field plus behind-pipe opportunities. The Oil & Gas Asset Clearinghouse is the exclusive technical, marketing and transaction adviser for the sale.
Highlights:
- 86 active wells;
- Producing from Pennsylvanian and Ordovician age systems;
- Barnes, UV Sands and Viola formations are the primary productive intervals;
- Additional upside potential in the Viola and Woodford formations;
- 681,000 barrels of oil equivalent (boe) of net proved reserves;
- 138 boe/d (about 70% oil) of net production forecast for January;
- $103,000 of net cash flow forecast for January;
- Actual net cash flow for September was $75,400;
- About 8,860 gross lease acres;
- 16.94%-30% working interest and 13.85%-26.25% (all nonoperated);
- 29 behind-pipe opportunities; and
- Five proved but undeveloped locations.
Bids are being accepted and are due by Jan. 31. The sale is expected to have an effective date of Jan. 1.
For information visit ogclearinghouse.com or contact Patrick DaPra, vice president of negotiated transactions with Clearinghouse, at 832-601-7655.
Recommended Reading
Petrie Partners: A Small Wonder
2024-02-01 - Petrie Partners may not be the biggest or flashiest investment bank on the block, but after over two decades, its executives have been around the block more than most.
CEO: Coterra ‘Deeply Curious’ on M&A Amid E&P Consolidation Wave
2024-02-26 - Coterra Energy has yet to get in on the large-scale M&A wave sweeping across the Lower 48—but CEO Tom Jorden said Coterra is keeping an eye on acquisition opportunities.
Hess Corp. Boosts Bakken Output, Drilling Ahead of Chevron Merger
2024-01-31 - Hess Corp. increased its drilling activity and output from the Bakken play of North Dakota during the fourth quarter, the E&P reported in its latest earnings.
Sunoco’s $7B Acquisition of NuStar Evades Further FTC Scrutiny
2024-04-09 - The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act for Sunoco’s pending acquisition of NuStar Energy has expired, bringing the deal one step closer to completion.
Matador Stock Offering to Pay for New Permian A&D—Analyst
2024-03-26 - Matador Resources is offering more than 5 million shares of stock for proceeds of $347 million to pay for newly disclosed transactions in Texas and New Mexico.