The following information is provided by Meagher Energy Advisors. All inquiries on the following listings should be directed to Meagher. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Panhandle Oil & Gas Inc. retained Meagher Energy Advisors to sell Delaware Basin minerals in Eddy and Lea counties, N.M.
Asset Highlights:
- Assets offer an attractive opportunity to acquire mineral interests in the most active and economic basin in the U.S.
- More than 200 horizontal rigs currently running in the Delaware Basin
- Operators currently testing equivalent spacing up to 32 wells per section
- Operators include: Concho, Mewbourne and Santo
- About 207 net mineral acres
- 160 net acres in Lea County, leased at 1/4 royalty
- One Wolfcamp well is waiting on completion, one active Wolfcamp permit
- Additional development on Panhandle’s Lea County lands is expected to result in 12 new Wolfcamp and Bone Spring completions through 2019
- EURs expected to average 456 MBO and 1.3 Bcf per well, assuming one-mile laterals
- Cash flow poised to rapidly increase with substantial near-term development in Section 15-T25S-R34E
- 47 net acres in Eddy County, leased at 1/4 royalty
- Currently, six rigs are drilling around the Eddy County properties
- Three producing wells (two horizontal and one vertical)
- Active Wolfcamp development in adjacent sections with initial 30-day production rates of over 2,000 bbl/d of oil
- Matador announces IP for first two Second Bone Spring wells 2,056 boe/d and 1,845 boe/d
- Additional development on Panhandle’s Eddy County lands is expected to result in 32 new Wolfcamp and Bone Spring completions through 2019
- 160 net acres in Lea County, leased at 1/4 royalty
Bids are due July 6. The transaction is expected to close Aug. 6 with an effective date of July 1.
For information visit meagheradvisors.com or contact Jacque Semple, project manager with Meagher, at 918-481-5900 ext. 221 or jsemple@meagheradvisors.com.
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