A private buyer signed completed the acquisition of mineral and royalty interests in Midland County, Texas from Black Stone Minerals, L.P..
July 30, 2020
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A private buyer signed an agreement to acquire mineral and royalty interests in Midland County, Texas from Black Stone Minerals, L.P. (NYSE:BSM) for $55 million on June 4, 2020. In a related transaction, Black Stone Minerals, L.P. signed an agreement to sell 57% undivided interest across parts of the Delaware Basin position and a 32% undivided interest across parts of the Midland Basin position to Pegasus Resources, LLC for gross proceeds of $100 million. As of July 27, 2020, total consideration for this transaction is anticipated to be $54.5 million after customary closing adjustments. The transaction is expected to close on July 28, 2020. Sale proceeds will be used to reduce the balance outstanding on the Black Stone Minerals, L.P.’s revolving credit facility.
A private buyer signed completed the acquisition of mineral and royalty interests in Midland County, Texas from Black Stone Minerals, L.P. (NYSE:BSM) in July, 2020. The total consideration is $54.6 million post closing adjustments.
Black Stone Minerals, L.P. is an owner and manager of oil and natural gas mineral interests in the United States. The Company's principal business is maximizing the value of its existing mineral and royalty assets through active management and expanding its asset base through acquisitions of additional mineral and royalty interests. It owns mineral interests in approximately 16.8 million gross acres. It also owns nonparticipating royalty interests (NPRIs) in 1.8 million gross acres and overriding royalty interests (ORRIs) in 1.6 million gross acres. The Company owns mineral and royalty interests in 41 states in the continental United States, including all of the onshore producing basins. Many of these interests are in active resource plays, including the Haynesville/Bossier shales in East Texas/Western Louisiana, the Wolfcamp/Spraberry/Bone Springs in the Permian Basin, the Bakken/Three Forks in the Williston Basin, and the Eagle Ford shale in South Texas.
BLACK STONE MINERALS, L.P. 
