TenOaks Energy Advisors recently represented Petroven Inc. and Tamaroa Development LLC in the sale of their Permian Basin properties in the emerging horizontal Wolfcamp play, the firm said in a release.
The sale included about 15,000 gross acres in Yoakum County, Texas, and Lea County, N.M., and gross production of 1,400 barrels of oil equivalent per day. The terms of the deal weren’t disclosed.
The properties have numerous remaining upside locations with attractive returns at current prices, the firm said.
TenOaks is a new Dallas-based A&D firm led by former executives from Energy Spectrum Advisors—Lindsay Sherrer, B.J. Brandenberger and Jason Webb. The team is focused on providing divestiture and advisory services to middle market oil and gas companies in the upstream, midstream and oilfield service sectors.
“We are excited about this opportunity to utilize our team’s well-balanced skill set and extensive industry relationships to further expand our proven track record,” the firms said in a statement.
Recommended Reading
Could Concentrated Solar Power Be an Energy Storage Gamechanger?
2024-03-27 - Vast Energy CEO Craig Wood shares insight on concentrated solar power and its role in energy storage and green fuels.
Bill Gates: ‘A Heroic Effort’ is Beginning, but Climate Goals Still Won’t be Hit
2024-03-26 - Bill Gates said during CERAWeek by S&P Global that the energy transition was picking up speed but still wouldn’t be able to achieve the climate goals established under the Paris Agreement of 2015.
Tangled Up in Blue: Few Developers Take FID on Hydrogen Projects
2024-04-03 - SLB, Linde and Energy Impact Partners discuss hydrogen’s future and the role natural gas will play in producing it.
NextEra Energy Dials Up Solar as Power Demand Grows
2024-04-23 - NextEra’s renewable energy arm added about 2,765 megawatts to its backlog in first-quarter 2024, marking its second-best quarter for renewables — and the best for solar and storage origination.
IEF Chief: When the Public Figures out Transition’s Cost, ‘We’re in Big Trouble’
2024-03-22 - Also, developing and undeveloped countries are pushing back, with one African minister saying “we will decarbonize after we carbonize.”