Warpaint Resources LLC is selling its Stack and Scoop oil and gas mineral properties located throughout the prolific stacked-pay environment in Central Oklahoma.
The offer consists of a 3,237 net mineral acre (NMA) position with exposure to rapidly developing resource plays led by top operators. Warpaint has retained Detring Energy Advisors as its exclusive adviser to handle the transaction.
- 3,237 NMA;
- 1,383 leased NMA / 1,558 NMA HBP / 295 NMA open;
- 3,038 NMA Stack / 139 NMA Scoop/Merge / 60 NMA other;
- Per-unit position with an average of about 26 NMA/section; and
- Top operators are Continental Resources Inc. (NYSE: CLR), Tapstone Energy and Devon Energy Corp. (NYSE: DVN).
Stack (3,038 NMA):
- 1,200 ft of stacked pay supports up to 15 wells/section targeting the upper, lower and middle Osage and Meramec;
- Majority of acreage located in the overpressured condensate window with EURs of about 1 MMBoe and working interest rate-of-returns’ greater than 50%; and
- Assets include two producing wells.
Scoop (139 NMA):
- Grady County, Okla. offers exposure to the traditional Scoop core, with activity moving east into McClain County, where permits are up by more than 100% this year.