Le Lézard
Classified in: Oil industry, Business
Subject: RLE

Pony Oil Acquires 3,616 Net Royalty Acres in Martin County During 1H2018


DALLAS, June 20, 2018 /PRNewswire/ -- Pony Oil LLC ("Pony Oil") announces it acquired 3,616 net royalty acres in Martin County, Texas, through the first six months of 2018. Pony Oil has focused on Martin County due to increased production and trade activity amongst leading operators in the area. From 2016 to 2017, Martin County saw a 19 percent increase in crude production1 and a 61 percent increase in approved drilling permits2. This falls in line with the general trend of growth in the Midland Basin. Pony Oil facilitated its acquisitions through a targeted aggregation strategy and divested an undisclosed amount of acreage to leading operators in the area.

Acquisition Summary:

Net Acres: 

3,616

Location:   

Midland Basin ? Martin County, Texas

Primary Operators:   

Pioneer Natural Resources, Crownquest Operating, Endeavor Energy Resources, Breitburn Operating, JM Cox Resources, Diamondback E&P, Lario Oil & Gas and Guidon Energy

Since 2012, Pony Oil has serviced countless landowners across various basins in Texas, Oklahoma, Colorado and Wyoming through its proprietary mineral engine. However, Pony Oil's primary footprint is in West Texas where it has acquired over 27,000 net acres.

About Pony Oil
Pony Oil is an independent mineral investment company founded by John Paul Merritt that is headquartered in Dallas, Texas. Pony Oil currently conducts operations in Texas, Oklahoma, Colorado and Wyoming. Their primary focuses are strategic mineral acquisitions for operators and portfolio development. For more information, please visit www.ponyoil.com.

_____________________

1 Drilling Info Inc. (2018). Martin County Production Data (2014-Current).
2 "Drilling Permits Approved by Year in Martin County, TX," Texas-Drilling, last modified March 1, 2018, accessed June 15, 2018

Related Files

PPR_ Martin County Minerals_Final (Citations).docx

Related Links

Pony Oil

SOURCE Pony Oil LLC


These press releases may also interest you

at 17:25
Customers Bancorp Reports Results for First Quarter
Customers Bancorp, Inc. : First Quarter 2024 Highlights Q1 2024 net income available to common shareholders was $45.9 million, or $1.40 per diluted share; ROAA was 0.94% and ROCE was 12.08%. Q1 2024 core earnings* were $46.5 million, or $1.42...

at 17:25
Tidewater Announces Earnings Release and Conference Call
Tidewater Inc. ("Tidewater" or the "Company") announced today that it will release financial results for the three months ending March 31, 2024, on Thursday, May 2, 2024 after market close. An earnings conference call has been scheduled for Friday,...

at 17:21
NSSF Praises Georgia Gov. Brian Kemp for Signing Second Amendment Privacy Act
NSSF®, The Firearm Industry Trade Association, praises Georgia Gov. Brian Kemp for signing into law HB 1018, the Second Amendment Privacy Act. This NSSF-supported law protects the privacy and sensitive financial information of people purchasing...

at 17:20
Petrolympic Ltd. Announces Closing of Private Placement Financing
Petrolympic Ltd. (the "Company", TSXV: PCQ) wishes to announce it has completed a non-brokered private placement (the "Offering") of 5,000,000 common shares of the Company on a flow-through basis ("FT Shares") at a price of $0.08 per FT Share, for...

at 17:15
NOVAGOLD Announces Date of its 2024 Virtual Annual General Meeting of Shareholders
NOVAGOLD's Annual General Meeting of Shareholders (the "Meeting") will be held virtually on May 16, 2024 at 1:00 p.m. PSTShareholders may vote on matters before the Meeting by proxy, join the virtual Meeting and vote, and submit questions either...

at 17:10
ECN Capital Schedules Q1-2024 Conference Call
ECN Capital Corp. ("ECN Capital" or "the Company") announced today that it intends to file its financial statements and management discussion and analysis for the three-month period ended March 31, 2024, after markets close on Thursday, May 9, 2024....

More news about Business...


News published on and distributed by: