BlackGold Completes Mineral Acquisitions in the Midland Basin, Texas
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BlackGold Capital Management, a private investment firm focused on the energy industry, has acquired a diverse portfolio of mineral and royalty interests in the Midland Basin in West Texas. Financial terms of the transaction were not disclosed.
BlackGold will receive a percentage of revenue from oil and gas production in this growing basin, free of operating expenses and capital expenditures. 72 percent of the net royalty acres (NRAs) in the portfolio are leased by operators in the top quartile of active horizontal rig counts in the Midland Basin, and 99 percent of the NRAs are leased by operators in the top half.
“This acquisition exemplifies BlackGold’s strategy of investing in asset-heavy, cash-flowing assets,” said Adam Flikerski, co-founder of BlackGold.
“BlackGold continues to acquire mineral and royalty interests in the core of low-cost basins under best-in-class operators,” said Erik Dybesland, co-founder of BlackGold.
BlackGold Capital Management, founded in 2006, has invested more than $8 billion since inception, across upstream, midstream, and oilfield services companies. In the past 12 months, BlackGold completed acquisitions of mineral and royalty interests totaling approximately $150 million.
About BlackGold
BlackGold Capital Management LP is a Houston-based private investment firm focused on asset-heavy, cash-flowing investments in the energy industry. Founded in 2006 by Erik Dybesland and Adam Flikerski, BlackGold seeks to generate compelling returns for its investors by employing a deep fundamental research-driven approach in analyzing energy assets and capital structures. The firm’s team has decades of experience in finance and operations, expertise in energy, and extensive long-standing industry relationships. KKR & Co. Inc., a global investment firm that manages investments across multiple asset classes, holds a 24.9 percent passive minority interest in BlackGold.
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