Dorchester Minerals LP recently added to its royalty acreage in a $29 million all-stock deal.
According to a release by the Dallas-based company on Nov. 23, Dorchester Minerals entered into a non-taxable contribution and exchange agreement with an unrelated third party to acquire mineral and royalty interests in exchange for roughly 1.6 million common limited partnership units. In a recent note, Enverus pegged the transaction value at about $29 million.
The acquisition is expected to close by year-end and represents approximately 4,600 net royalty acres located in 27 counties across New Mexico, Oklahoma, Texas and Wyoming.
Dorchester Minerals currently owns producing and non-producing oil and natural gas mineral, royalty, overriding royalty, net profits and leasehold interests located in 26 states, the company release said.
As of May, Dorchester held about 10,000 net mineral acres in the Bakken/Three Forks region in North Dakota and 84,000 net mineral acres in the Permian Basin across West Texas and southeastern New Mexico.
Recommended Reading
Now, the Uinta: Drillers are Taking Utah’s Oily Stacked Pay Horizontal, at Last
2024-10-04 - Recently unconstrained by new rail capacity, operators are now putting laterals into the oily, western side of this long-producing basin that comes with little associated gas and little water, making it compete with the Permian Basin.
VTX Energy Quickly Ramps to 42,000 bbl/d in Southern Delaware Basin
2024-09-24 - VTX Energy’s founder was previously among the leadership that built and sold an adjacent southern Delaware operator, Brigham Resources, for $2.6 billion.
Matador May Tap Its Haynesville ‘Gas Bank’ if Prices Stabilize
2024-10-24 - The operator holds 8,900 net Haynesville Shale acres and 14,800 net Cotton Valley acres in northwestern Louisiana, all HBP, that it would drill if gas prices stabilize—or divest for the right price.
Coterra Takes Harkey Sand ‘Row’ Show on the Road
2024-11-20 - With success to date in Harkey sandstone overlying the Wolfcamp, the company aims to make mega-DSUs in New Mexico with the 49,000-net-acre bolt-on of adjacent sections.
SM, Crescent Testing New Benches in Oily, Stacked Uinta Basin
2024-11-05 - The operators are landing laterals in zones in the estimated 17 stacked benches in addition to the traditional Uteland Butte.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.