Kimbell Royalty Partners LP (NYSE: KRP) is kicking off 2019 by continuing its buying spree of oil and gas mineral and royalties in the U.S., this time with a multimillion-dollar acquisition from private-equity firm EnCap Investments LP.

The Fort Worth, Texas-based company said Feb. 7 that EnCap agreed to sell certain oil and gas royalty assets in a 100% equity transaction worth about $151.3 million. The majority of the asset’s production is located in the Eagle Ford Shale, Permian Basin, Haynesville Shale and Powder River Basin.

The deal will add about 1,600 barrels of oil equivalent per day (boe/d) of production and 12,200 net royalty acres, increasing Kimbell’s total net royalty acre position by 9% to roughly 144,100 net royalty acres across the continental U.S.

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