Fort Worth-based Kimbell Royalty Partners said last week it agreed to acquire mineral and royalty interests from a private seller in the Mabee Ranch in Midland Basin for $231 million. The assets are in Midland (63 percent) and Andrews (37 percent) counties in west Texas. As of Oct. 1, 2024, production was 1,842 boed (1,125 b/d of oil), and for fullyear 2025 production is estimated by Kimbell at 1,842 boed (1,104 b/d of oil).
Bob Ravnaas, chairman and CEO, said Jan. 7, “The acquired assets are located on one of the largest family-owned tracts in the heart of the Midland Basin and enhance Kimbell’s Permian footprint with excellent reservoir quality, near-term cash flow and long-term production growth.” Ravnaas said production comes from about 875 gross producing wells on 869 net royalty acres spanning 68,049 gross acres. Operators include ConocoPhillips, Diamondback Energy and ExxonMobil.