South Coast Investment Advisors has been partnering with Mewbourne Oil Company for more than a decade through their annual drilling program limited partnerships. As the 3rd largest private producer of oil and natural gas in the United States, Mewbourne offers institutional access to the energy space. The company currently operates more than 3,000 wells in the Permian and Anadarko Basins and produces the equivalent of over 340,000 barrels of oil per day, or almost 3% of total US daily production.
Over the last year, energy producers have experienced record profits after Russia’s invasion of Ukraine sent crude prices soaring, helping them rebound from the pandemic. Coupled with OPEC+’s recent surprise cut and continued expectation of demand outpacing supply, the future for crude prices looks bright.
Mewbourne’s total drilling budget for 2023 is estimated at $3B or about 350 wells. A portion of these funds ($175M – $200M) will be raised through the annual limited partnership. Mewbourne Energy Partners 23-A Program is anticipated to fully subscribe by July 1st. South Coast will have a limited allocation to this year’s program; if interested, please contact the office to let us know. You may also register for this webinar below.