(Source: Shutterstock.com)
Viking Minerals LLC completed the sale of its Viking Minerals Partnership’s (VMP) Funds II and III on Sept. 23 for $22 million to an undisclosed buyer, the Oklahoma City-based minerals acquisition company announced Oct. 8.
With the exit of VMP Funds II and III, Viking Minerals has invested more than $66 million since 2017 for a total return of almost $125 million, Viking Minerals co-President and CEO Ransome Oliver said in the deal’s announcement.
Viking has raised and exited four VMP funds for a profit of more than $57 million, according to the press release. The average multiple on invested capital realized is 1.86 with a 19.5% average internal rate of return and 18% average annual yield.
“As we look forward, we plan to employ our same strategy of ground-game aggregation of mineral rights assets with individual landowners while seeking and maintaining the best opportunities, and assembling bespoke portfolios to drive value for investors,” Oliver said.
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.
EY: How AI Can Transform Subsurface Operations
2024-10-10 - The inherent complexity of subsurface data and the need to make swift decisions demands a tailored approach.
CNOOC Makes Ultra-deepwater Discovery in the Pearl River Mouth Basin
2024-09-11 - CNOOC drilled a natural gas well in the ultra-deepwater area of the Liwan 4-1 structure in the Pearl River Mouth Basin. The well marks the first major breakthrough in China’s ultra-deepwater carbonate exploration.
Darbonne: The Geologic, the Man-made and the Political of Uinta Basin Outcrops
2024-10-01 - The oily western Uinta features layers of sedimentary deposits on view for visitors, mostly uninterrupted by man-made features but having an unseen pall of federal interference.
Patterson-UTI Boosts Bottom Line with OFS Acquisitions
2024-08-06 - Less than a year out from the closing of its merger with NexTier and its acquisition of Ulterra Drilling Technologies, Patterson-UTI is taking strides not to be the latest has-been.
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.