Encana Corp. is making its way into the oil and natural gas-rich Permian region of Texas after it announced its plan to buy Athlon Energy, an online Calgary Herald report stated on September 29.
Encana plans to buy the Texas-based energy firm for a little less than $6 billion and to assume its debt worth more than $1 billion. With this deal, the company envisions producing 250,000 barrels of oil per production day by 2017, which is five times what it produced last year. The company also believes the acquired land provides the company with around 5,000 possible new drilling spots.
Selling your mineral rights to healthy and well-footed companies in the oil production sector is a guaranteed way to ensure that you get the best value out of your property. The professionals at The Mineral Auction can provide you a wide portfolio of businesses who can buy your rights when you call our office at (512) 698-2802 today.
Oil and natural gas wells are among the many natural resources that are considered depleting assets. Depleting assets generally refer to resources that are expected to decline over time. A very productive gas well today may eventually become barren and stop producing over an unspecified period of time. When this happens, mineral properties will become essentially unprofitable.
The lack of surety regarding when a mineral property would start to dwindle in resources and eventually become unproductive is the primary reason why several mineral rights owners choose to sell, rather than lease, their mineral properties. Selling their mineral rights provides them the assurance of getting the most out of their property, without the risk of depletion that might dramatically decrease the value of their mineral rights.
We at The Mineral Auction are aware of the many advantages of selling mineral rights, and are ready to help mineral rights owners enjoy the most out of these depleting interests by selling. To know more about how we can be of help, call us at (512) 698-2802 today.