Prime Rock Energy Capital LLC is selling certain minerals in Oklahoma’s Stack play through a sale handled by advisory firm TenOaks Energy Advisors LLC.
The assets consist of mineral acreage focused in Blaine and Kingfisher counties, Okla., and include 40 producing horizontal wells with more than 1,100 upside locations.
Highlights:
- 1,512 net mineral acres and 1,891 net royalty acres (95% Blaine/Kingfisher);
- Ownership spans 57 sections (70% pooled);
- 75% of core Stack rigs located in townships with Prime Rock minerals, according to TenOaks;
- 40 producing horizontal wells;
- Average 24-hour IP rate on all horizontal wells is about 1,015 barrels of oil equivalent per day (boe/d);
- Best 24-hour IP rate from a horizontal well is about 2,300 boe/d;
- Regulatory activity on more than 50% of Prime Rock’s sections, TenOaks said;
- 1,190 quantified upside locations targeting proven benches including the Upper/Middle/Lower Meramec, Woodford, Osage and Oswego; and
- Operators include Continental Resources Inc. (NYSE: CLR), Newfield Exploration Co. (NYSE: NFX), Devon Energy Corp. (NYSE: DVN), Marathon Oil Corp. (NYSE: MRO) and Cimarex Energy Co. (NYSE: XEC).
Bids are due by noon CT Nov. 10. For information visit tenoaksenergyadvisors.com or contact TenOaks’ B.J. Brandenberger at 214-420-2323.
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