HOUSTON--(BUSINESS WIRE)--Andros Capital Partners LLC (“Andros”) today announced that its affiliate, Andros Minerals LLC (“Andros Minerals”) has entered into a definitive purchase and sale agreement to acquire a portfolio of mineral and royalty interests located in the Midland Basin, Delaware Basin, and Eagle Ford Shale for $122 million from an undisclosed private seller.
“We are excited to establish Andros Minerals as a direct mineral and royalty acquisition platform with this initial acquisition,” said Andros Founder and Managing Partner Phillip A. Gayle, Jr. “A tremendous amount of private capital has been invested in minerals over the past decade and is looking for an exit. We believe we are uniquely positioned as the appropriate long-term owner of these assets and will continue to acquire and aggregate mineral and royalty interests at scale across the most active U.S. basins.”
Gibson Dunn & Crutcher LLP acted as legal counsel to Andros.
About Andros Capital Partners LLC
Andros Capital Partners is a private investment firm based in Houston, Texas. Andros combines flexible, long-duration capital with an opportunistic investment mandate, leveraging a proven track record of building, operating and monetizing assets across the energy value chain. For more information please visit www.androscapital.com.