- Freehold Royalties (FRU) is acquiring two properties in Texas for a combined $155 million
- The Calgary-based company is buying the land from two separate private sellers
- One U.S. mineral title and royalty asset is located in the Midland Basin in Howard County, Texas while the other is in the state’s Eagle Ford Basin
- The acquisitions are expected to add approximately 1,100 boe/d in production volumes and $31 million in funds from operations during 2023
- Freehold Royalties is up 10.1 percent, trading at $13.05 at 11:58 am ET
Freehold Royalties (FRU) is acquiring two properties in Texas for a combined $155 million.
The Calgary-based oil and gas company is buying the land from two separate private sellers.
One U.S. mineral title and royalty asset is located in the Midland Basin in Howard County, Texas. The other is in the state’s Eagle Ford Basin.
The company is paying $132 million for the Midland Basin property and $32 million for the Eagle Ford land.
Freehold also recently closed its previously-announced $19 million acquisition of mineral title and royalty assets in the Midland Basin, a separate transaction.
The company says the additions “enhance the quality” of its North American royalty portfolio, as it continues to position its portfolio in the highest quality oil and gas development areas across North America.
The acquisitions are expected to add approximately 1,100 boe/d in production volumes and $31 million in funds from operations during 2023.
Freehold Royalties is up 10.1 percent, trading at $13.05 at 11:58 am ET.