MCM Energy Announces Sale of Martin County, Texas, Leasehold
MIDLAND, Texas, August 7, 2018 (Newswire.com) - MCM Energy Partners LLC announced the recent disposition of 756 net acres in Martin County, Texas, for $24.6 million. The position required several trades to be completed by MCM and ultimately provided a contiguous, bolt-on position for the purchasing operator.
Additionally, the company said it has sold an additional 1,870 net acres of operated and non-op leasehold in the Midland and Delaware Basins during the first half of 2018 for more than $20 million. MCM currently owns about 2,000 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