HOUSTON--(BUSINESS WIRE)--Mesa Royalties II, LLC (“Mesa II”) is pleased to announce it has closed on the acquisition of a mineral and royalty portfolio containing ~15,000 net royalty acres in the core of the Haynesville shale play from an undisclosed seller. The acquired asset contains 472 existing PDP wells, and the projected asset cash flow for the next twelve months is ~$30 million.
Mesa II is a mineral and royalty acquisition company led by Darin Zanovich (President & CEO), Greg Balash (COO & EVP Engineering), Michelle Massaro (EVP Finance) and Josh Wiener (EVP Land). In May, Mesa II announced aggregate equity commitments of $150 million from NGP through NGP Natural Resources XII, L.P. and NGP Royalty Partners, L.P.
Darin Zanovich, President & CEO of Mesa II, commented, “We are excited to acquire this premier Haynesville shale mineral and royalty portfolio. The asset has robust existing cash flow that allows us to begin an immediate distribution plan for our investors. The assets are situated in the core of the Haynesville in north Louisiana, and there are currently 9 rigs drilling on the acreage today. Additionally, ~50% of the active drilling permits in the basin are currently located on this acreage footprint, which will allow the position to continue to have a significant cash flow profile for years to come.”
For more information about Mesa II, please visit www.mesamineralsllc.com
About NGP
Founded in 1988, NGP is a premier private equity firm with over $20 billion of cumulative equity commitments organized to make strategic investments in the energy and natural resources sectors.
For more information about NGP, please visit www.ngpenergycapital.com