Luxe Minerals LLC, which acquires mineral and royalty interests in the Midland and Delaware basins, Stack and Scoop, Eagle Ford, Bakken, Powder River and the Merge area, raised about $254 million of equity commitments from NGP through NGP Natural Resources XI LP and Luxe’s management team, according to a March 13 press release.
Austin, Texas-based Luxe Minerals will be led by the team of Luxe Energy, which divested Delaware Basin assets to Diamondback Energy Inc. (NASDAQ: FANG) for $560 million in September 2016, and received $524 million in equity from NGP and Luxe Energy management in October 2016.
Currently, Luxe Energy and Luxe Minerals seek investments in the same oily basins, the press release said.
Luxe Minerals co-founders A. Lance Langford and Jeff Larson have worked together for more than 25 years at Burlington Resources, Brigham Exploration and Statoil ASA (NYSE: STO).
Recommended Reading
TGS, SLB to Conduct Engagement Phase 5 in GoM
2024-02-05 - TGS and SLB’s seventh program within the joint venture involves the acquisition of 157 Outer Continental Shelf blocks.
Drilling Automation Systems Provide Consistency Across Wells, Fields, Personnel
2024-01-09 - Automated drilling systems don’t get tired, forgetful or concerned about the type of rig or formation.
8 Rivers, Casale Partner to Advance Hydrogen Technology
2024-01-17 - The CO2 convective reformer will enable 8 Rivers’ 8RH2 technology to capture nearly all CO2 as part of its process, the company says.
Trendsetter Completes Two Deepwater Well Stimulation Campaigns
2024-01-24 - Trendsetter Engineering's campaigns resulted in the “successful” acid treatments of a combined six wells using their subsea tree injection manifold.
StimStixx, Hunting Titan Partner on Well Perforation, Acidizing
2024-02-07 - The strategic partnership between StimStixx Technologies and Hunting Titan will increase well treatments and reduce costs, the companies said.