Austin-based Brigham Minerals said last week it agreed to purchase certain mineral and royalty interests in Midland Basin from funds managed by Avant Natural Resources and affiliates for $132.5 million. Acquisition includes 3,900 net royalty acres in Martin and Midland counties with 2023 estimated production of 750 to 950 boed (60 percent oil). Operators include Endeavor Energy Resources, Pioneer Natural Resources and ExxonMobil.
Robert M. Roosa, CEO, said it’s the company’s largest acquisition in its 10-year history. He added, “We anticipate this acquisition will generate industry-leading activity as well as strong production and cash flow growth.”