Longtime Fort Worth energy executive Jonny Brumley has formed two new companies, Presta Petroleum LLC and Presta Royalty LLC, focusing on properties in Texas, Oklahoma, and New Mexico.
Presta Petroleum has been formed to acquire and manage long-life working interests in oil and gas properties, and Presta Royalty has been formed to purchase oil and gas royalties, over-rides, and mineral interests.
Presta Royalty has focused on purchasing mineral interests and royalties that will generate cash flow and production growth.
In addition to the units listed above, Presta Royalty also has a strong mineral position in the state of Oklahoma. These minerals are in active areas with operators in Oklahoma such as Continental Resources, Ovintiv, and Casillas Petroleum. Presta Royalty's Oklahoma assets are focused on the core of the SCOOP/Stack play and the Western Anadarko Basin. These Oklahoma minerals generate significant cash flow accompanied with high growth potential, according to the company. .
Additionally, Presta Royalty has significant producing and non-producing minerals in the Permian Basin, East Texas, the Barnett Shale, and the Arkoma Basin. In total, Presta Royalty currently has close to 12,500 net mineral acres.