Echo Sells Permian, Anadarko Minerals for $500MM to Sixth Street
Transaction Type
Sellers
Buyers
Basin
Permian, Anadarko
Announce Date
Post Date
Estimated Price
0MM
Description
Echo Minerals, an affiliate of investment firm Echo, has completed the sale of mineral and royalty interests for more than half a billion dollars. The exact value of the transaction wasn’t disclosed.
The transaction involved a portion of Permian and Anadarko basin leasehold to private equity firm Sixth Street Partners, Echo said in a June 11 press release.
The transaction follows a 3% divestiture of Echo’s mineral and royalty portfolio valued at $35.4 million in early 2022. Endeavor Resources and Pioneer Natural Resources, which completed a sale to Exxon Mobil in May, were the primary operators in the area.