Presta Petroleum LLC (Presta), headquartered in Fort Worth, TX and founded by Jonny Brumley, has integrated its acquisition of ELSR, LP, paid off its debt, and is back in the oil and gas property
acquisition market.
Presta focuses on building a portfolio of long-life assets in Texas, Oklahoma, and North Dakota that display shallow production declines, high margins, and upside potential. Seventy-five percent of Presta's cash flow is generated by royalty properties.
Presta owns interests in some of the largest enhanced oil recovery projects in Texas. The table below highlights a few of the enhanced oil recovery (EOR) projects that Presta owns an interest in. These EOR projects are the cornerstone to Presta's strategy and allow Presta to grow more easily than its competition because of the EOR project's flat production profile.
Field Name: North Robertson Unit
County: Gaines
State: TX
Area: Permian
Ownership Type: WI
Field Name: Howard Glasscock Unit
County: Howard
State: TX
Area: Permian
Ownership Type: WI
Field Name: Yates Unit
County: Pecos
State: TX
Area: Permian
Ownership Type: RI
Field Name: Hawkins Unit
County: Wood
State: TX
Area: East Texas
Ownership Type: RI &WI
Field Name: SACROC
County: Scurry
State: TX
Area: Permian
Ownership Type: RI
When Presta combines this EOR portfolio with its unconventional upside in the Midland Basin, Delaware Basin, SCOOP play in Oklahoma, and the Cherokee play in Oklahoma it receives the unique benefit of organic production growth with little or no capital.
Presta has been active acquiring properties since August of 2018 and has successfully completed over 30 acquisitions in Texas, Oklahoma, and North Dakota. Most of Presta's properties have come from acquiring oil and gas assets from family companies or family trusts. Presta has earned a reputation of paying a fair price, treating sellers with respect, and closing deals.
