Dorchester Minerals LP closed two acquisitions of mineral and royalty interests in the Permian and Denver-Julesburg (D-J) basins.
Both transactions were structured as non-taxable contribution and exchanges.
The first transaction included mineral, royalty and overriding royalty interests totaling 14,529 acres across 14 counties in New Mexico and West Texas. Approximately 65% of the acreage is in the Permian’s Delaware Basin, with the remaining 35% located in the Midland Basin.
The contributing parties conveyed their interests to Dorchester in exchange for 6,721,144 common units representing limited partnership interests in Dorchester Minerals LP.
In a separate transaction, Dorchester agreed to acquire overriding royalty interests totaling approximately 1,204 net royalty acres located in Weld County, Colorado, from an unrelated third party. Weld County overlays the D-J Basin.
The seller conveyed the interests in exchange for 530,000 common units representing limited partnership interests in Dorchester.
RELATED
Dorchester Inks Deals for Midland, Delaware and D-J Basin Interests
With a market value of approximately $1.2 billion, Dallas-based Dorchester Minerals is among the largest publicly traded minerals and royalties players.
Other major public players include Texas Pacific Land, Viper Energy Partners, Black Stone Minerals, Sitio Royalties and Kimbell Royalty Partners.
RELATED
Recommended Reading
Rising Phoenix: The Anti-Permian Minerals Firm Buying … Permian
2024-09-13 - Rising Phoenix Minerals CEO Jace Graham said his boutique firm isn’t getting any bigger: The company doesn’t need a squad of infantry when “we’ve got a team of snipers.”
Dusting Off the D-J: Bison Acquires 210,000 Net Acres in 20 Months
2024-08-23 - Since finding backing from Quantum Energy Partners, Bison Oil & Gas IV has built an 83% HBP position in the Denver-Julesburg Basin, including more than 400 net locations and an average 20,000 boe/d, says CEO Austin Akers.
Non-op Rising: NOG’s O’Grady, Dirlam See Momentum in Co-purchase M&A
2024-09-05 - Non-operated specialist Northern Oil & Gas is going after larger acquisitions by teaming up with adept operating partners like SM Energy and Vital Energy. It’s helping bridge a capital gap in the upstream sector, say NOG executives Nick O’Grady and Adam Dirlam.
PEDEVCO Teams Up with Denver E&P To Develop D-J Basin Acreage
2024-10-01 - PEDEVCO is teaming up with a private equity-backed Colorado operator to jointly develop the SW Pony Prospect in Weld County, Colorado.
Verdun Oil: Quietly Leading the Eagle Ford’s Refrac Rally
2024-08-23 - Verdun is among the largest private producers left in South Texas, with more than 285,000 net leasehold acres and 90,000 net boe/d across the Eagle Ford Shale trend and the Giddings Field.
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.