FORT WORTH, Texas, Jan. 9, 2020 /PRNewswire/ -- Presta Petroleum LLC and Presta Royalty LLC, formed by Jonny Brumley, are headquartered in Fort Worth, Texas, with a geographic focus on Texas, Oklahoma, and New Mexico. Presta Petroleum has been formed to acquire and manage long-life working interests in oil and gas properties, and Presta Royalty has been formed to purchase oil and gas royalties, over-rides, and mineral interests.
Presta Petroleum LLC Summary
Presta Petroleum has been fortunate to purchase interests in some of the most prolific oil-producing units in Texas and New Mexico. The table below highlights a few of the high-quality units that Presta Petroleum currently owns working interests in:
Field Name | County | State | Area | Operator |
North Robertson Unit | Gaines | TX | Permian | Sabinal |
Howard Glasscock Unit | Howard and Glasscock | TX | Permian | Sheridan |
Hawkins Unit | Wood | TX | East Texas | XTO |
Hobbs Unit | Lea | NM | Permian | OXY |
Due to the high margins, first-class operators, and the predictable nature of the production, these fields form a strong foundation for Presta Petroleum.
Presta Royalty LLC Summary
Like Presta Petroleum, Presta Royalty has been active in the acquisition market. Presta Royalty has focused on purchasing mineral interests and royalties that will generate cash flow and production growth. The table below shows a few of the large units that Presta Royalty has purchased royalty interests in:
Field Name | County | State | Area | Operator |
Yates Unit | Pecos | TX | Permian | Kinder Morgan |
Sacroc Unit | Scurry | TX | Permian | Kinder Morgan |
Parks Unit | Midland | TX | Permian | XTO |
In addition to the units listed above, Presta Royalty also has a strong mineral position in the state of Oklahoma. These minerals are in active areas with some of the best operators in Oklahoma such as Continental Resources, Ovintiv, and Casillas Petroleum. Presta Royalty's Oklahoma assets are focused on the core of the SCOOP/Stack play and the Western Anadarko Basin. These Oklahoma minerals generate significant cash flow accompanied with high growth potential.
Additionally, Presta Royalty has significant producing and non-producing minerals in the Permian Basin, East Texas, the Barnett Shale, and the Arkoma Basin. In total, Presta Royalty currently has close to 12,500 net mineral acres.
Business Development
The Presta companies have a knowledgeable staff with the ability to quickly and efficiently evaluate producing properties or mineral interests. Due to Presta's debt-free balance sheet, high margin properties, and a sound strategy, Presta is poised to make acquisitions.
For individuals, families or companies interested in selling their oil and gas interests, give Jonny Brumley at Presta a call at 817-796-9980. A short description of the Presta companies and their strategy can be found on Presta's website at www.prestapetro.com.
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SOURCE Presta Petroleum LLC