Dallas, Texas – Noble Royalties has signed a letter of intent to purchase producing oil and natural gas royalties from more than 2,100 wells in 75 counties and 8 states for $10.34 million from an undisclosed seller. The 30% oil, 50% natural gas and 20% Natural Gas Liquids acquisition provides current cash flow from oil, natural gas and natural gas liquids.
Closing is scheduled for February 29, 2012. The effective date of the acquisition is February 1, 2012.
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Noble Royalties, Inc. is the nation’s largest private purchaser of oil and natural gas royalties. Founded in 1997 by President and CEO Scott Noble, the company has since acquired more than $1.5 billion in mineral, royalty and overriding royalty interests in 30 states across more than 9,000,000 acres. With corporate headquarters in Dallas and an engineering and evaluation office in Houston and acquisition offices in Denver, CO and Cuero, TX, Noble Royalties is dedicated to providing royalty owners with a cash option to maximize the value of their holdings.
For more information:
Martin Fleming, (469-879-6747), (mfleming@nobleroyalties.com)