DALLAS--(BUSINESS WIRE)--Elk Range Royalties (“Elk Range”) is pleased to announce it has acquired certain Eagle Ford Basin mineral and royalty interests (“the Acquired Assets”) from an undisclosed private seller.
The Acquired Assets include roughly 1,700 net royalty acres (“NRAs”) across DeWitt, Gonzales, and Karnes counties. This acquisition marks the third Eagle Ford Basin deal closed this year and is the largest single purchase the Elk Range team has made in the basin to date. The Acquired Assets include 385 producing gross locations and approximately 2.1 net wells operated by top operators such as EOG, Devon, and Marathon Oil. This brings Elk Range’s total ownership in this basin to over 2,700 NRA across DeWitt, Gonzales, Karnes, Webb, and Zavala counties. Elk Range funded the acquisition through its equity commitment from NGP Royalty Partners II, L.P.
Charlie Shufeldt, CEO of Elk Range commented, “We're thrilled to have secured this acquisition and proud of the Elk Range team's hard work in making it happen. Our position in the Eagle Ford Basin continues to grow, and we're excited about the opportunities that lie ahead for Elk Range in this basin.”
Foley & Lardner LLP served as legal counsel for Elk Range on the transaction.
About Elk Range Royalties
Elk Range is led by Charlie Shufeldt (CEO), Clinton Koerth (Vice President of Land and Business Development), Jeff Stewart (Vice President of Engineering) and Ashleigh Bell (Director of Finance & Accounting). Elk Range manages a portfolio consisting of approximately 42,000 NRAs with an interest in over 8,400 horizontal wells across the Permian, Uinta, Anadarko, Eagle Ford, Haynesville and DJ Basins under the Elk Range Royalties, Luxe Minerals, 89 Energy II Minerals and Land Run Minerals platforms.
For more information visit www.elkrange.com.
NGP is a premier private equity firm that believes energy is essential to progress. Founded in 1988, NGP is moving energy forward by investing in innovation and empowering energy entrepreneurs in natural resources and energy transition. With $20 billion of cumulative equity commitments, we back portfolio companies focused on responsibly solving and securing the energy needs of today and leading the way to a cleaner, more reliable, more affordable energy future.
For more information, visit www.ngpenergy.com.