Elk Range Royalties Makes Its First Acquisition in the Appalachian Basin
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Elk Range Royalties has made its first acquisition of certain mineral and royalty interests in the Appalachian Basin from an undisclosed private seller.
The acquisition included roughly 8,000 net royalty acres across three states, including West Virginia, Pennsylvania, and Ohio. This marks the first Appalachian Basin deal closed by Elk Range.
The acquisition includes 194 producing gross locations and approximately 0.67 net wells operated by top operators such as EQT, Antero, CNX, Southwestern, and Range.
“Our team has invested considerable time and effort to underwrite, diligence and close this acquisition opportunity. We have substantial dry powder and are poised to continue acquiring in the Appalachian basin. We look forward to growing our presence there,” said Charlie Shufeldt, CEO of Elk Range.
This deal is a continuation of Elk Range Royalties’ efforts to expand its acquisition efforts into high-quality, low-breakeven basins. Elk Range funded the acquisition utilizing equity commitments from funds managed by NGP Energy Capital Management.
Elk Range Royalties manages a portfolio consisting of approximately 40,000 NRAs with an interest in over 5,000 horizontal wells across the Permian, Uinta, Anadarko, Eagle Ford, Haynesville, Denver-Julesburg, and Appalachian basins under the Elk Range Royalties, 89 Energy II Minerals, and Land Run Minerals platforms.
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