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Resource Royalty portfolio company, Meramec Rich Royalties, LLC, announces 15 successful new wells in Stack region of Oklahoma.
Resource Royalty, LLC, and its affiliated portfolio company, Meramec Rich Royalties, LLC, announced that 15 new wells were completed in Q3 on com- pany properties. Twelve of the 15 wells are in Blaine County, OK, operated by Marathon Oil and Continental Resources. Additionally, three wells in Dew- ey county operated by Tapstone Resources were completed. The firm and its client’s own royalty interests under the Stack region wells. “The mineral acquisitions we made several years ago are beginning to pay off,” said Bob Howard, President of Resource Royalty. Over the past 12 months 1,060 wells have been permitted in the region despite a drop in WTI and natural gas prices. Operators continue to report impressive well results with over 1,200 BOEPD. Economics remain very attractive in the Stack. Meramec Rich Roy- alties, LLC, the seventh portfolio company to target the Stack, owns 36 ,000 gross mineral acres with over 67 producing wells.