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.
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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
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SOURCE Pony Oil LLC
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