Mesa Royalties II LLC on July 8 closed on the acquisition of a mineral and royalty portfolio in the Haynesville Shale, marking the Houston company’s first acquisition since its launch with new financial backer NGP.

Mesa II announced its launch in May, raising $150 million of aggregate equity commitments from NGP through NGP Natural Resources XII LP and NGP Royalty Partners LP. Previously, the company’s predecessor, backed by Quantum Energy Partners, had assembled a Haynesville Shale-focused royalty portfolio, which it sold for $135 million late last year to Franco-Nevada.

The portfolio acquired by Mesa II on July 8 consists of about 15,000 net royalty acres and is located in the core of the Haynesville in North Louisiana, according to Darin Zanovich, president and CEO of Mesa II.

“The asset has robust existing cash flow that allows us to begin an immediate distribution plan for our investors,“ Zanovich commented in a July 8 release.

Zanovich also added that roughly 50% of the active drilling permits in the basin are currently located on the acquired acreage footprint, “which will allow the position to continue to have a significant cash flow profile for years to come.”

The acquired asset contains 472 existing PDP wells, and the projected asset cash flow for the next 12 months is about $30 million. Currently, nine rigs drilling are operating on the acreage today, according to Zanoivch’s statement.

Terms of the transaction, as well as the seller, were not disclosed.