Dallas, Texas – Noble Royalties, Inc. announces the acquisition of 13,600 acres of producing oil royalties in the Delhi Unit in Northern Louisiana from an undisclosed seller.
The properties are operated by Denbury Resources, a company noted for its successful development of CO2 flood driven oil development throughout the Gulf Coast. The unit has witnessed strong development over the last two years and is expected to see continued aggressive drilling and development over the next five years. Additionally, the properties currently receive oil royalties at a premium over the NYMEX-posted price.
Noble Royalties, Inc. President and CEO Scott Noble praised the acquisition stating, “in the current relatively-high oil pricing environment, we have maintained our disciplined approach to purchase an asset that will provide cash-flow now with the opportunity for additional growth in the future.”
The acquisition represents more than $120 million in oil and natural gas royalty acquisitions that Noble Royalties, Inc. has closed 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 $1.3 billion in mineral, royalty and overriding royalty interests in 30 states across more than 8,500,000 acres. With corporate headquarters in Dallas and offices in Houston, Denver and Cuero, Texas, 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)