Scott Noble, CEO and founder of Noble Royalties Inc., shares what opportunities remain in the Permian Basin plus what he focuses on when deciding on buying minerals.
During the interview with Hart Energy’s Jessica Morales at the recent DUG Permian Basin Conference in Fort Worth, Texas, Noble also addressed headwinds facing the industry and how to mitigate risks in the minerals business.
When asked where he faces the most competition these days, he said: “I think the biggest competition are really on the smaller sized transactions of $2 million and below. There is a lot of people playing in that space and I don’t think that they have the team or the expertise to be able to price them right accordingly.”
Since founding Noble Royalties in 1997, the company has acquired over $1.5 billion in minerals, royalties and overriding royalty interest, according to the Noble Royalties website. Noble said the company is currently backed by Apollo Global Management LLC.
Recommended Reading
Some Payne, But Mostly Gain for H&P in Q4 2023
2024-01-31 - Helmerich & Payne’s revenue grew internationally and in North America but declined in the Gulf of Mexico compared to the previous quarter.
Kimmeridge Fast Forwards on SilverBow with Takeover Bid
2024-03-13 - Investment firm Kimmeridge Energy Management, which first asked for additional SilverBow Resources board seats, has followed up with a buyout offer. A deal would make a nearly 1 Bcfe/d Eagle Ford pureplay.
M4E Lithium Closes Funding for Brazilian Lithium Exploration
2024-03-15 - M4E’s financing package includes an equity investment, a royalty purchase and an option for a strategic offtake agreement.
Laredo Oil Subsidiary, Erehwon Enter Into Drilling Agreement with Texakoma
2024-03-14 - The agreement with Lustre Oil and Erehwon Oil & Gas would allow Texakoma to participate in the development of 7,375 net acres of mineral rights in Valley County, Montana.
California Resources Corp. Nominates Christian Kendall to Board of Directors
2024-03-21 - California Resources Corp. has nominated Christian Kendall, former president and CEO of Denbury, to serve on its board.