NEP Midstream & Royalties acquires interests in Texas
Published by Lydia Woellwarth,
Editor
World Pipelines,
NEP Midstream and Royalties has acquired various Mineral and Royalty Interests in Reagan County, Texas, US, with an effective date of 1 December 2019.
The purchase covers approximately 175 acres and includes 21 wells with 14 additional wells to be brought online within the next 24 months. The current volume produced within this acreage is 4350 bpd and 6 748 000 ft3/d of natural gas. The 14 additional wells are expected to add significant revenue with no additional capital expenditures.
Reagan County, Texas has a long history of producing oil and natural gas. Several of the acres included in the purchase have been producing oil and natural gas since 1949, NEP Midstream and Royalties is expecting to generate positive cash flow for another fifty years within this acreage.
The properties are operated by Plains All American, Russell Operating and Sable Permian Resources.
NEP Midstream and Royalties invests primarily in pipeline and energy-related logistical infrastructure assets with an emphasis on those that transport, gather, process and store crude oil, natural gas and natural gas liquids (NGLs).
Read the article online at: https://www.worldpipelines.com/business-news/04032020/nep-midstream-royalties-acquires-interests-in-texas/
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