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Montego Minerals Closes Thirteenth Portfolio for $11.7 Million

Oil wells and colourful oil barrels on US $100 dollar banknote bills. Illustration of the concept of making money by oil production, cruel oil trading and surging price of petroleum

Montego Minerals, an investor in oil and gas royalties and mineral rights in the Permian Basin, has closed its thirteenth portfolio, Edgewood Minerals LLC.

Montego Minerals, an investor in oil and gas royalties and mineral rights in the Permian Basin, has closed its thirteenth portfolio, Edgewood Minerals LLC.

The $11.7 million fund was an all-cash investment opportunity located in the Permian Basin, one of the oldest and most widely recognized oil and gas producing regions in North America that covers approximately 86,000 square miles across New Mexico and Texas.

Edgewood Minerals is comprised of approximately 21,133 gross acres, seven counties, 26 individual properties and six operators. Currently, the acreage includes 37 producing wells, 13 active permits with room for more than 120 additional wells to be drilled, according to Montego.

“With three generations of oil and gas experience, Montego Minerals is a lighthouse for investors looking to participate in America’s energy real estate,” said Sean Caldwell, senior vice president of Capital Markets. “Master petroleum engineer and founder, Rhett Gist, provides in-house sourcing, evaluation and underwriting of mineral interest properties with exceptional speed. This affords our investors access to high quality and timely options for their capital.”

Montego Minerals acquires mineral and royalty interests for properties that have existing leases with energy companies and, in most cases, feature significant production already in pay status to investors, the company said. The operators drilling wells on the property pay all drilling and operating costs. The fund sponsor, Montego Asset Management, collects royalty payments from the operators and distributes the funds monthly to investors.

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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