DALLAS – Noble Royalties, Inc. announces that it has agreed to the purchase of more than 24,000 producing mineral and royalty acres in 19 Texas counties for more than $46 million from an undisclosed seller. The acquisition includes producing royalties from predominantly natural gas in the Barnett Shale, Travis Peak, Cotton Valley and Deep Bossier. Over the last five years, the properties have averaged more than 80 new wells drilled per year.
Noble Royalties President and CEO Scott Noble praised the acquisition stating, “We have been working diligently over the last three months to reach this agreement. It represents both strong current cash flow and an opportunity for additional future development through broad exposure to natural gas markets.”
Once closed, the acquisition will represent more than $100 million in royalty acquisitions by Noble Royalties this year.
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Noble Royalties, Inc. is the nation’s largest private purchaser of oil, natural gas and coal royalties. Founded in 1997 by President and CEO Scott Noble, the company has since acquired more than $1.2 billion in mineral, royalty and overriding royalty interests in 30 states across more than 8,500,000 acres. With corporate headquarters in Dallas and an engineering and evaluation office in Houston, 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)