MCM Energy Announces Recent Sale of Leasehold in Ward and Loving Counties
MIDLAND, Texas, January 8, 2019 (Newswire.com) - MCM Energy Partners, LLC announced the recent sale of its leasehold in Ward and Loving Counties, Texas for $42 million. Including the recent sale, the company said it sold more than 4,800 net acres of operated and non-op leasehold in the Midland and Delaware Basins during 2018 for more than $90 million.
Furthermore, MCM expects to close on the sale of Midland Basin leasehold for ~$20MM in Q1 2019. MCM currently owns approximately 1,320 net acres in the core areas of the Midland and Delaware Basins, as well as 12,000 contiguous acres in central Pecos County.
MCM is a privately held company located in Midland, Texas, focused on acquiring oil and gas assets in the Permian Basin. MCM was founded in 2009 by its CEO, Miles McPherren.
Source: MCM Energy Partners, LLC