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Freehold Royalties to buy Midland, Eagle Ford assets for C$155M

Jul. 07, 2022 7:22 AM ETFreehold Royalties Ltd. (FRHLF) Stock, FRU:CA StockBy: Carl Surran, SA News Editor

Freehold Royalties (OTCPK:FRHLF) said Thursday it agrees to acquire U.S. Midland Basin and Eagle Ford Basin assets from two private sellers for a combined C$155M.

Freehold (OTCPK:FRHLF) expects the acquisitions will add 1,100 boe/day in production volumes and $31M in funds from operations in 2023 while increasing its U.S. land holdings by 147K gross acres and 8K net royalty acres.

Freehold Royalties (OTCPK:FRHLF) "currently sports an 8.1% dividend yield that is well supported by operating cash flows," Macrotips Trading writes in a bullish analysis newly published on Seeking Alpha.

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