Agreements to Acquire Permian Basin Royalty Assets Highlights
- 123,000 gross acres (2,670 net royalty acres) predominately in the core of the Midland basin;
- Adds 600 boe/d of US production in 2024;
- 85% liquids weighted production stream;
- 40% increase to Freehold’s Permian land position; and
- 25% increase to Freehold’s US drilling inventory.
CALGARY, Alberta, Dec. 11, 2023 (GLOBE NEWSWIRE) -- Freehold Royalties Ltd. (Freehold or the Company) (TSX:FRU) has entered into definitive agreements with two private sellers to acquire high quality Permian mineral title and royalty assets located in the Midland basin in Texas and the Delaware basin in New Mexico and Texas (together, the “Acquired Assets”) for approximately $112 million (the “Acquisitions”), net of estimates for exchange rates and customary closing adjustments. All references in this news release to dollar amounts are in Canadian dollars unless otherwise indicated.
Freehold Royalties Ltd. Enters into Agreements to Acquire (globenewswire.com)