3,622 Net Royalty Acres, or 56%, of Pony Oil's acquisitions in 1H19 are located in the core of the Midland Basin
Image: Pony Oil acquires 3,622 net royalty acres in the Midland Basin in 1H2019. Photo: courtesy of skeeze from Pixabay.
Using a proprietary in-house acquisition engine, Texas-based Pony Oil, LLC (“Pony Oil”) acquired a total of 6,455 Net Royalty Acres across 162,000 gross acres in the first 6 months of 2019.
3,622 Net Royalty Acres, or 56%, of Pony Oil’s acquisitions in 1H19 are located in the core of the Midland Basin. Pony Oil deploys a multi-faceted acquisition strategy across domestic basins to purchase mineral, royalty, and non-operated oil and gas interests across various basins in the United States.
“Despite expanding to additional domestic basins, Pony Oil continues to focus on being the leader for mineral and royalty acquisitions in the Midland Basin. Due to increased market efficiencies, Pony has invested in building a best-in-class technical team to pair with our proven land strategies. Whether it be from a geological, engineering, or land perspective, we believe our team is well-positioned to capitalize on opportunity as basins and strategies continue to evolve in our industry.” – George Overbey, COO of Pony Oil
Midland Basin Acquisition Summary (1H2019):
Net Royalty Acres: 3,622
Location: Midland Basin – TX (Glasscock, Howard, Martin, Midland, Reagan and Upton Counties)
Source: Company Press Release