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Black Stone Minerals to buy Freeport McMoRan energy assets for $102M

  • Black Stone Minerals (NYSE:BSM +2.9%) agrees to acquire a package of oil and gas mineral assets from Freeport McMoRan (FCX +3%) for $102M, in a deal the company says will bolster its presence in the Permian region.
  • BSM says the assets include ~1.2M gross mineral acres, 16K net non-participating royalty interests and 11K overriding royalty interest acres in 20 states, concentrated in Texas, Louisiana and Arkansas.
  • The assets feature estimated Q4 production of 850 boe/day and estimated proved developed producing reserves of 2M boe as of Dec. 31.
  • Now read Black Stone Minerals LP IPO looks hot

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Black Stone Minerals, L.P. Common Units