Alliance Resource Partners closed a $10.5 million acquisition of oil and gas mineral interests in the third quarter, the company said in its Oct. 28 earnings report.

The company holds a portfolio of interests “heavily weighted” toward the Permian Basin, though it didn’t specify where it bought interests. The company also holds mineral and royalty interests in the Anadarko, Williston and Appalachian basins.

The company invests in both coal and oil and gas interests.  Since 2014, Alliance has invested about $730 million in oil and gas royalties across 68,578 net royalty acres, that have generated $447 million in adjusted EBITDA.

Joseph W. Craft III, Alliance chairman, president and CEO, said the company’s royalty’s business realized a solid quarter of year-over-year volumetric growth.

“We continue to reap the benefits of a minerals portfolio that is heavily weighted towards the Permian Basin, where top-tier upstream operators are actively drilling and completing new wells on our mineral acreage,” Craft said. “Additionally, we continued to add to our position in the Permian, successfully closing $10.5 million of ground game acquisitions during the 2024 Quarter.”

Craft said the value and prospects for Alliance’s oil and gas royalty segment was a major contributor to the success of a senior notes offering earlier this year.

“We remain committed to growing this segment as a complement to our core coal operations, and as we scale the business, we believe investors will continue to recognize the intrinsic value the segment possesses as a growth vehicle,” he said.

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