Two companies are offering producing packages in Texas, according to advisory firm Oil & Gas Asset Clearinghouse LLC, which is handling the transactions.
MB Exploration LLC is selling nonoperated producing assets throughout Madison, Martin and Reeves counties, Texas, in a sealed-bid offering. The sale includes properties in the Spraberry and Wolfbone fields in the Permian Basin.
EQC Operating Trust, an affiliate of Equity Commonwealth (NYSE: EQC), has producing Barnett Shale assets in Tarrant County, Texas, for sale in an auction handled by Clearinghouse. The assets have a net production of 60,000 cubic feet per day.
For information visit ogclearinghouse.com or contact Patrick DaPra, vice president of negotiated transactions with Clearinghouse at 832-601-7655.
MB Exploration asset highlights:
- Working and royalty interests in Madison, Martin and Reeves;
- Operated by Palmer Petroleum Inc. and affiliates of Occidental Petroleum Corp. (NYSE: OXY) and Pioneer Natural Resources Co. (NYSE: PXD);
- Net production of about 18.43 barrels of oil per day and 66,720 cubic feet per day;
- 10 proved developed producing wells;
- Fields include Ft. Trinidad East, Spraberry and Wolfbone fields; and
- Producing formations include Buda and Trend areas.
Bids are due by Nov. 16.
EQC asset highlights:
- Mineral interest of about 2.63% in pooled units in Tarrant;
- Operated by XTO Energy Inc.;
- Located in the Barnett Shale producing formation in the Newark East Field;
- Net production of about 60,000 cubic feet per day; and
- Average monthly net cash flow of about $3,175 (July 2016 through July 2017).
Auction closes Nov. 29.
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