Haymaker Minerals & Royalties III acquired a “large-scale diversified mineral portfolio” in partnership with Denham Capital and its affiliates, the Houston-based company said July 6.
According to a company release, affiliate H3 Minerals LLC closed the acquisition of a portfolio holding mineral and royalty interests in thousands of wells scattered across more than 30 counties and parishes in Texas, Louisiana, North Dakota and Montana. The seller and terms of the transaction weren’t disclosed. Kirkland & Ellis LLP acted as legal counsel to Haymaker on the transaction.
“This acquisition fits perfectly within the Haymaker strategy of acquiring diversified mineral portfolios valued at greater than $100 million,” Haymaker Managing Partner Karl Brensike commented of the deal in the release.
Brensike also described Haymaker as continuing to have “a strong appetite for additional diversified mineral portfolios of scale.” The company has used various entities to manage and acquire mineral and royalty interests in over 35,000 oil and gas wells across the U.S.
“This acquisition fits perfectly within the Haymaker strategy of acquiring diversified mineral portfolios valued at greater than $100 million.”—Karl Brensike, Managing Partner, Haymaker Minerals & Royalties
According to its website, Haymaker principals have worked with public E&P companies and other owners of large mineral and ORRI portfolios since 2004. The team’s experience also includes executing “complex transactions” with companies such as Cimarex Energy (now known as Coterra Energy Inc.) and Chesapeake Energy Corp. and completing a full S-1 filing for a mineral company IPO.
“With almost 20 years of experience in acquiring and managing complex and diversified mineral portfolios, Haymaker management prides itself on working with sellers to provide flexible options for their assets,” Brensike said in the release on July 6.
The Haymaker team includes managing partners Vasilis Mouratoff and Doug Collins, who co-founded Haymaker alongside Brensike in 2013, plus partners Evan Monckton and Justin Moore.
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