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.
- 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.
- 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.