Montego Minerals, an investor in oil and gas royalties and mineral rights, announced the close of its fifteenth portfolio, Reeves River Minerals LLC.
The $12.4 million fund was an all-cash investment opportunity located in the United States’ most productive energy basin, the Permian Basin.
Reeves River Minerals is a portfolio of royalty assets that expands across approximately 12,527 acres, eight counties, 11 individual properties and eight operators including Aethon Energy, Callon Petroleum, Endeavor Energy, EOG Resources and Surge Energy.
Currently, Montego Minerals says this acreage has 37 producing wells, 10 drilled but uncompleted wells, four active permits and land for more than 113 additional wells to be drilled.
“As the quantity of client exchanges slows into this rising interest rate environment, Montego has continued to see a flight to quality, debt-free Permian Basin mineral assets. Our disciplined acquisition metrics have been refined through four commodity price cycles over the last 50 years. Residing in the heart of the Permian Basin, Midland Texas, Montego Minerals’ three generations of petroleum experience affords our investors a lighthouse in both calm and uncertain times. It is our opinion that demand for oil and gas is not going away anytime soon, in fact, we believe it will become even more important to the developing economies around the world as a relentless and rising middle class across India and Asia presses forward,” said Sean Caldwell, senior vice president of capital markets.
Montego Minerals is a three-generation family office of petroleum engineers and geologists that has evaluated and purchased minerals and royalties in the Permian Basin for the last 50 years.
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