Fort Worth-based Kimbell Royalty Partners said last week it is acquiring mineral and royalty interests from EnCap Investments and Sabalo Holdings subsidiary MB Minerals in a cash-and-stock deal valued at $143 million ($48.8 million cash). The assets are comprised of 806 net royalty acres on 60,000 gross unit acres in Borden and Howard counties in northern Midland Basin. Kimbrell expects the acreage to produce 1,901 boed (77 percent oil) in the next year. Kimbrell said April 12 total proved reserves are about 5.3 million boe.
There are more than 300 total producing wells on the acreage with three active rigs.