Fort Worth Mineral Co.

Transaction Type
Sellers
Marketers
Basin
Permian Basin; Delaware Basin
Post Date
Close Date
Room Opening Date
Estimated Price
MM
Description

Fort Worth Mineral Co. retained TenOaks Energy Advisors as its exclusive adviser in connection with the sale of its Delaware Basin mineral portfolio.

The offer includes certain mineral interests across Loving, Pecos and Reeves counties, Texas, and Lea and Eddy counties, N.M. Operators include Chevron Corp., EOG Resources Inc., Occidental Petroleum Corp. and XTO Energy Inc.

Asset Highlights

  • Core Mineral Position in the More Actively Developed Areas of the Delaware Basin
    • 5,442 Net Royalty Acres (Loving, Lea, Reeves, Pecos, Eddy)
      • The company will entertain offers for the areas designated in the attached summary
  • Position controlled by the Delaware Basin’s most active operators
  • Exceptional development track record with 72 spuds on the position over the last 18 months
  • Substantial near-term cash flow growth from 41 DUCs and 86 permits
  • Sept. 2018 – Dec. 2018 projected monthly API cash flow (PDPs, DUCs, Permits): ~$700,000/month
    • 2018 annualized API cash flow: $8.4 million

Bids are due at noon CST Aug. 14. For information visit tenoaksenergyadvisors.com or contact BJ Brandenberger, partner of TenOaks, at bj.brandenberger@tenoaksadvisors.com or 214-420-2323. To receive a copy of the confidentiality agreement email Trey Bonvino, a TenOaks associate, at trey.bonvino@tenoaksadvisors.com.