Dorchester Minerals closed acquisitions of mineral and royalty interests in the D-J Basin (pictured) and the Permian Basin. (Source: Shutterstock.com/ Dorchester Minerals)
Dorchester Minerals LP closed two acquisitions of mineral and royalty interests in the Permian and Denver-Julesburg (D-J) basins.
Both transactions were structured as non-taxable contribution and exchanges.
The first transaction included mineral, royalty and overriding royalty interests totaling 14,529 acres across 14 counties in New Mexico and West Texas. Approximately 65% of the acreage is in the Permian’s Delaware Basin, with the remaining 35% located in the Midland Basin.
The contributing parties conveyed their interests to Dorchester in exchange for 6,721,144 common units representing limited partnership interests in Dorchester Minerals LP.
In a separate transaction, Dorchester agreed to acquire overriding royalty interests totaling approximately 1,204 net royalty acres located in Weld County, Colorado, from an unrelated third party. Weld County overlays the D-J Basin.
The seller conveyed the interests in exchange for 530,000 common units representing limited partnership interests in Dorchester.
RELATED
Dorchester Inks Deals for Midland, Delaware and D-J Basin Interests
With a market value of approximately $1.2 billion, Dallas-based Dorchester Minerals is among the largest publicly traded minerals and royalties players.
Other major public players include Texas Pacific Land, Viper Energy Partners, Black Stone Minerals, Sitio Royalties and Kimbell Royalty Partners.
RELATED
Recommended Reading
Gulfport Energy to Offer $500MM Senior Notes Due 2029
2024-09-03 - Gulfport Energy Corp. also commenced a tender offer to purchase for cash its 8.0% senior notes due 2026.
ONEOK Offers $7B in Notes to Fund EnLink, Medallion Midstream Deals
2024-09-11 - ONEOK intends to use the proceeds to fund its previously announced acquisition of Global Infrastructure Partners’ interest in midstream companies EnLink and Medallion.
Kosmos to Repay Debt with $500MM Senior Notes Offer
2024-09-11 - Kosmos Energy’s offering will be used to fund a portion of its 7.125% senior notes due 2026, 7.750% senior notes due 2027 and 7.500% senior notes due 2028.
Talos Ups Buybacks, Pays Down Debt Post $1.29B QuarterNorth Deal
2024-07-22 - Talos Energy said it repaid $325 million in debt since closing its $1.29 billion cash-and-stock acquisition of E&P QuarterNorth in March.
Equinor Subsidiary Contracts Valaris Drillship Offshore Brazil
2024-07-22 - Valaris and Equinor Energy do Brasil’s multi-year contract is valued at approximately $498 million.
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.