TenOaks Energy Advisors

Friends and Colleagues - The year in oil & gas was a bit like the Yogi Berra quote, "You can observe a lot just by watching." Significant downward commodity price swings from late 2022 led to a very slow start to middle-market A&D to kick off 2023. Not exactly the start many of us were hoping for! However, the ever-resilient “passive” strategies (minerals and non-op) showed great strength and lifted tides for TenOaks and RedOaks throughout 2023. Minerals as an asset class continued to draw capital from a variety of places and opportunistic exits from savvy teams seemed to lead to imminent fundraising for the next vehicle.?We love seeing this segment develop and having a front row seat to the amazing results the asset class has generated through varied market cycles. The non-op working interest market continues to be in full swing with both public and institutional players playing key roles. Capital is prevalent and creating viable exit opportunities for well-balanced non-op portfolios with compelling growth potential, non-op wellbore-only PDP packages, and simple AFE purchases. The operated property market was alive and well in the second half of the year, however, one area that was strong out of the gate in '23 was the Corporate deal market. Public E&Ps were very much open for business, as we saw significant combinations, acquisitions, and interest in deal-making at a pace that did not let up all year. For 2023, Corporate deals totaled approximately $165B, accounting for 85% of total M&A in the E&P space.?This was certainly helped by the strong returns seen in 2022 for energy equities and a result of their thirst for scale and a desire to control the remaining Tier 1 inventory in the U.S. ■??TenOaks is proud to have launched our Renewables & Sustainability practice in 2023 ■??TenOaks/RedOaks announces another banner year in 2023 with $1.4B in upstream sell-side transactions

Greenlake Energy is offering for sale certain non-operated working interest properties located in Reeves County, Texas. See the Executive Summary here: https://lnkd.in/gw9Vtcpt

The TenOaks Renewables & Sustainability team is pleased to announce the sale of the Catenary Vis portfolio of utility-scale battery energy storage leases and surface rights.

TenOaks Energy Advisors - Renewables & Sustainability is hiring an Analyst for a summer 2025 start. https://lnkd.in/gE3_3E_7

SGH Energy?is offering for sale certain non-operated working interest properties located in the Texas Panhandle. See the Executive Summary here: https://lnkd.in/g9bNSRDC

Our dedicated Renewables & Sustainability team has launched their LinkedIn page. Please follow their page if you would like to see updates related to our Renewables & Sustainability business. TenOaks Energy Advisors - Renewables & Sustainability Eric Wenick Carson Riggan, CPA LinkedIn: https://lnkd.in/gamsVbkm

Our dedicated Renewables & Sustainability team has launched their LinkedIn page. Please follow their page if you would like to see updates related to our Renewables & Sustainability business. TenOaks Energy Advisors - Renewables & Sustainability Eric Wenick Carson Riggan, CPA LinkedIn: https://lnkd.in/gamsVbkm

Congratulations to our clients Carrollton Mineral Partners, LP (Permian) and Hunt Energy (DJ Basin) on their pending mineral & royalty sales. TenOaks Energy Advisors is proud to be serving as exclusive advisor to both sellers. https://lnkd.in/gYh23FWw

A Private Seller?is offering for sale certain mineral and royalty interests located in Louisiana. See the Executive Summary here: https://lnkd.in/gvNApRqd

Congratulations to our clients Carrollton Mineral Partners, LP (Permian) and Hunt Energy (DJ Basin) on their pending mineral & royalty sales. TenOaks Energy Advisors is proud to be serving as exclusive advisor to both sellers. https://lnkd.in/gYh23FWw