Post Oak Minerals Acquires $475 Million of Permian Basin Focused Minerals & Royalties
2024年7月29日 - 9:00PM
ビジネスワイヤ(英語)
Post Oak Minerals V, LLC (“POM V”), an affiliate of Post Oak
Energy Capital, LP (“Post Oak”), today announced that it has
completed 10 acquisitions with a total value of over $475 million
since the beginning of 2024, primarily in the Permian Basin.
The acquired assets include over 28,400 net royalty acres
(“NRA”) of mineral & royalty interests, with 27,400 NRA located
in the Permian Basin and the remaining NRA located in the Eagle
Ford and Haynesville shale trends. POM V acquired approximately
24,000 NRA (100% fee minerals) in the Midland Basin from Apache
Corporation and certain of its subsidiaries. The sellers of the
other acquired assets include Hunt Oil Company and other family
offices and private individuals.
The acquired assets will be managed by Post Oak Minerals, LLC
(“Post Oak Minerals”), the in-house mineral & royalty
investment platform for Post Oak. In total, Post Oak Minerals
currently oversees more than 80,000 NRA of mineral & royalty
interests (inclusive of the recent POM V acquisitions), with
approximately 50,000 NRA located in the Permian Basin. These assets
are owned by multiple private institutional investment funds that
are managed by Post Oak.
“We are delighted to capture a rare opportunity to own a
large-scale minerals position in the heart of the Permian Basin
with substantial remaining undeveloped resource,” said Eric Madry,
Managing Director of Post Oak Minerals. “These interests are in
proven areas among the best geology and lowest breakeven
development costs in the United States and are being actively
developed by premier, well capitalized operators that are executing
full pad development programs. We were able to move swiftly to
capture these assets at an attractive risk-adjusted valuation due
to our close collaboration with Post Oak as an in-house
platform.”
“The recent acquisitions by POM V reflect a continuation of Post
Oak’s mineral and royalty investment strategy, which we have
successfully executed since our first fund in 2011,” said Frost
Cochran, Managing Director and founding partner of Post Oak.
“Permian Basin minerals has consistently proven to be an
extraordinary asset class given the perpetual ownership of
thousands of feet of economic stacked pay resource, providing
multi-decade exposure to industry advances without the associated
capital or operating expenditures.”
Greenhill & Co, Inc., a Mizuho affiliate, acted as exclusive
financial advisor to Post Oak on the acquisition of Midland Basin
minerals from Apache Corporation and certain of its
subsidiaries.
About Post Oak Minerals V, LLC
POM V was formed in 2024 with an equity commitment from Post Oak
Energy Partners V, LP to continue the mineral and royalty
investment strategy that Post Oak has successfully executed since
2011. POM V’s primary focus is acquiring mineral & royalty
assets in the Permian Basin and other key U.S. basins in proven
resource areas with low breakeven costs, top-tier operators, and
substantial remaining development. POM V’s assets will be managed
by Post Oak Minerals, the in-house investment platform formed in
2020 to manage Post Oak’s mineral and royalty investment
activities. For more information, please visit
www.postoakminerals.com.
About Post Oak Energy Capital, L.P.
Post Oak, which was established in 2006, is a Houston-based
private equity firm primarily focused on making domestic
investments in the upstream, midstream and oilfield services
sectors of the energy industry. Post Oak seeks to identify
outstanding oil and gas entrepreneurs and management teams with
well-defined business plans that also possess a demonstrated track
record of creating accretive value for shareholders. For more
information, please visit www.postoakenergy.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240729939516/en/
For more information: Kelly Kimberly FGS Global 713.822.7538
kelly.kimberly@fgsglobal.com