Business
Brigham Minerals buys Midland Basin core assets in $132 million deal (NYSE: MNRL)
Brigham Minerals (NYSE:MNRL) said on Monday it agree to get mineral interests and royalties in the Texas Midlands Basin from Avant Natural Resources for $132.5 million in cash.
Brigham Minerals (MNRL) indicates that the purchased property is included 3,900 acres of net royalties in the core of the Midland Basin with an estimated production of 750-950 boe/day (60% oil).
Brigham (MNRL) CEO Rob Roosa said, adding that he views the deal as “the highest quality package at the Midland Basin that we have evaluated to date.”
Brigham Minerals (MNRL) was reported recently Q2 GAAP earnings of $0.78/share on revenue of $90.8 million.