Acquisitions & Divestitures

Kimbell Kicks Off New Year With $175 Million Springbok Acquisition

Kimbell Royalty Partners agreed to acquire the mineral and royalty interests held by the NGP-backed Springbok Energy Partners and its affiliates in a cash and stock transaction valued at $175 million.

Emily

Patsy

HartEnergy.com

Thu, 01/09/2020 - 05:00 PM

Kimbell Royalty Partners Kicks Off New Year With $175 Million Acquisition

In a statement, Ryan Watts, president and CEO of Springbok Investment Management and manager of the Springbok entities, called Kimbell “the natural acquiror” of the company’s acreage. (Source: Shutterstock.com)

Kimbell Royalty Partners LP added to its coffers on Jan. 9 with the multimillion-dollar acquisition of private equity backed Springbok Energy Partners LLC

Kimbell has agreed to acquire the mineral and royalty interests held by the Dallas-based company and its affiliates in a cash and stock transaction valued at $175 million.

Backed by NGP Energy Capital Management LLC, Springbok has assembled a position of more than 13,000 mineral interests across 15 unconventional resource plays in 10 states. In total, the company and its affiliated predecessor entities have invested over $200 million of investors’ capital over the past 10 years.

Already have an account? Log In

Thanks for reading Hart Energy.

Subscribe now to get unmatched coverage of the oil and gas industry’s entire landscape.

Need more than one account? See Group Subscription options

Emily Patsy

Emily Patsy is the senior managing editor for Hart Energy’s Digital News Group. She's responsible for the daily news flow and also manages the A&D Watch and Energy Pulse weekly newsletters.

Recommended Reading

From Oil and Gas Investor Editor-in-Chief: The Bear Case Privates

As public E&Ps promise capital discipline and slow or no growth through 2021, an unexpected and potentially price-busting trend is developing behind the scenes. Could private oil and gas producers ruin it for everyone?

EOG Embraces ‘Double Premium’ Drilling Strategy

Houston-based EOG Resources is focusing on so-called “double premium” wells that yield a 60% direct after-tax rate of return at $40/bbl WTI and $2.50 Henry Hub.

US Interior Stops Trump-era Effort to Loosen Arctic Drilling Regulations

The rollback effort made by the administration of former President Donald Trump was among a string of eleventh-hour proposals aimed at maximizing energy development on public lands and waters.