Hefner Sells PetroVen Inc.'s 1,600 Acre SCOOP Condensate Position

PetroVen, Inc. of Dallas, Texas, has closed on the divestiture of 1,600 non-operated working interest acres in the heart of the SCOOP condensate window to an undisclosed buyer as a result of their engagement with Hefner Energy which acted as exclusive sell-side advisor on the multi-million transaction.

“We were having a difficult time divesting one of our projects in Oklahoma.” DJ Cherry of PetroVen, Inc. said. “I reached out to Robert and he hit the ground running. He completely revamped our presentation and made several key improvements that we had overlooked. Robert's initiative and technical knowledge added significant value to our prospect and we were able to get a much better return on investment. I would recommend Robert for anything oil and gas related from project evaluation, technical expertise, acquisitions, divestitures and business development. He is a true oil and gas professional.”

Given the bid-ask spread, and volatility in the marketplace with oil prices in a downward spiral, PetroVen and Hefner Energy were both happy with the results.