Black Stone Minerals, L.P. Enters in Agreement to Acquire Mineral Interests in Colorado

Black Stone Minerals, L.P. Enters in Agreement to Acquire Mineral Interests in Colorado

Black Stone Minerals has entered into an agreement with an undisclosed seller to acquire an interest in 4,800 gross acres in the Wattenberg Field in Weld County, Colorado for $35 million. The acreage is prospective for the Niobrara B, Niobrara C, and Codell intervals. Estimated next twelve month production is expected to average approximately 700 Boe/d (35% oil). The transaction will be funded with cash on hand and borrowings under the Partnership’s credit facility. The closing of the acquisition is anticipated to be completed by the end of the second quarter of 2016 and is subject to customary closing conditions.

 

Source: http://investor.blackstoneminerals.com/phoenix.zhtml?c=253789&p=irol-newsArticle&ID=2166659

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