The following information is provided by Detring Energy Advisors LLC. All inquiries on the following listings should be directed to Detring. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.

Rock Oil Holdings LLC is offering for sale its oil and gas mineral and royalty interests located in Howard County, Texas, within the Midland Basin. The assets offer an attractive opportunity to acquire a concentrated position underneath a premier, Permian-focused operator with access to multiple benches across the prolific Wolfcamp and Spraberry horizons. Rock has retained Detring Energy Advisors as its exclusive adviser relating to the transaction.

Asset Highlights:

  • 2,588 Net Royalty Acres (Normalized to 1/8th)
    • ~100% Minerals
    • ~40% HBP
    • Exposure to multiple high-royalty interest units, including two recent 7.1% RI permits
  • Mineral properties assembled in conjunction with Rock’s 26,000 net acre leasehold position, which was sold to SM Energy in 2016 for $1 billion
    • Assets identified with a full multi-disciplined technical characterization, including interpretation of cores, logs, and 3-D seismic
    • Consistently thick and high-quality pay provides excellent hydrocarbon response across multiple horizons
    • Prolific IP rates across the Wolfcamp A, Wolfcamp B, and Lower Spraberry, with substantial potential in other zones including the Middle Spraberry and Wolfcamp D
  • 95% operated by SM Energy, which has budgeted ~$900 MM D&C capital to the Midland Basin in 2018
    • Running an average of 8 hz rigs with a focus on pad development
    • 1Q 2018 Howard Co. hz wells avg. ~1,450 boe/d (~90% oil)
    • Avg. ~10,000 ft laterals substantially accelerate mineral cash flow & value
    • Most active Howard County operator with 32 wells drilled YTD
  • Assets include 54 active producers (37 Hz) plus 22 Hz DUC’s/Permits with an avg. RI of ~1%
    • Net Prod: ~230 boe/d
    • NTM Cash Flow: ~$4.5 MM

Process Overview:

  • Evaluation materials available via the Virtual Data Room (VDR) on May 21
    • Data room presentations available upon request
  • Proposals due on June 20

For information visit or contact Melinda Faust at or 713-595-1004.