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.

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