The company said it acquired oil and gas royalty interests in approximately 7,490 total net royalty acres for $286 million in cash on October 2, 2024. The interests are located primarily in the Midland Basin.

1. 01

   The company said it acquired oil and gas royalty interests in approximately 7,490 total net royalty acres for $286 million in cash on October 2, 2024. The interests are located primarily in the Midland Basin.

2. 02

   The company said the acquired interests span approximately 2,220 NRA in Martin, 2,080 NRA in Midland and other counties, and that over 80% of the interests are adjacent to or overlap existing Texas Pacific Land surface and royalty acreage.

3. 03

   The company said Exxon Mobil Corporation and Diamondback Energy Inc operate about 66% of the acreage. It said the acquired assets currently produce about 1,300 barrels of oil equivalent per day (about 78% liquids).

4. 04

   The company said twelve rigs are currently running on the acreage and that less than half of the Drilling and Spacing Units have seen development, or none at all. It also said it expects next-twelve-months production to generate a double-digit cash flow yield.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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