Montego Minerals, an investor in oil and gas royalties and mineral rights, has announced the close of its sixteenth portfolio, Ashwood Minerals LLC.
Montego says the $12.99 million fund was an all-cash investment opportunity located in the United States’ Permian Basin.
Ashwood Minerals represents a diversified portfolio of royalty assets historically delivering both income and growth to accredited investors. The portfolio expands across approximately 82,556 gross acres, 7 counties, 22 individual properties, and 12 premier operators including Exxon, Pioneer, Aethon Energy, Endeavor Energy, EOG Resources and Surge Energy. Currently, this acreage has 731 producing wells, 20 drilled but uncompleted, 26 active permits and room for more than 123 additional wells to be drilled.
“Ashwood Minerals marked the fastest equity raise in our 10 years of working with the retail community, closing $12.9 million in under 38 days. We continue to work with clients seeking debt-free income solutions derived from the production of our country’s oil and gas. We are committed to expanding our ground game, with the goal of sourcing the highest-grade mineral and royalty assets our valued investors can own.” 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.