Elevation Resources LLC is selling Permian Basin assets in two separate, sealed-bid offerings handled by Oil & Gas Asset Clearinghouse LLC.
Elevation’s offers total roughly 9,931 gross (8,191 net) acres of producing and undeveloped leasehold in the company's Blackjack and West Toyah assets in West Texas.
The Blackjack asset includes 5,403 gross/net acres in Crockett, Irion, Reagan and Schleicher counties, Texas. West Toyah covers 4,528 gross (2,788 net) acres in Reeves County, Texas.
Highlights:
Blackjack
- 960 gross/net acres HBP;
- Four operated oil wells;
- Average net production of 101 barrels per day (bbl/d) of oil and 1.002 million cubic feet per day; and
- Average net cash flow of $164,000 per month.
West Toyah
- 640 gross (512 net) acres HBP;
- One operated well;
- Average net production of 18 bbl/d of oil and 396,000 cubic feet per day; and
- Average net cash flow of $22,200 per month.
Bids for both sales are due March 8. For information visit ogclearinghouse.com or contact Denna Arias, vice president of business development for Clearinghouse, at 832-601-7605.
Recommended Reading
CNX, Appalachia Peers Defer Completions as NatGas Prices Languish
2024-04-25 - Henry Hub blues: CNX Resources and other Appalachia producers are slashing production and deferring well completions as natural gas spot prices hover near record lows.
Chevron’s Tengiz Oil Field Operations Start Up in Kazakhstan
2024-04-25 - The final phase of Chevron’s project will produce about 260,000 bbl/d.
Rhino Taps Halliburton for Namibia Well Work
2024-04-24 - Halliburton’s deepwater integrated multi-well construction contract for a block in the Orange Basin starts later this year.
Halliburton’s Low-key M&A Strategy Remains Unchanged
2024-04-23 - Halliburton CEO Jeff Miller says expected organic growth generates more shareholder value than following consolidation trends, such as chief rival SLB’s plans to buy ChampionX.
Deepwater Roundup 2024: Americas
2024-04-23 - The final part of Hart Energy E&P’s Deepwater Roundup focuses on projects coming online in the Americas from 2023 until the end of the decade.