Foley Serves as Legal Counsel to Elk Range in Acquisition of Mineral and Royalty Interests in the Eagle Ford Basin

27 April 2023 News

Foley & Lardner LLP served as legal counsel to Dallas-based Elk Range Royalties (Elk Range) in its acquisition of certain Eagle Ford Basin mineral and royalty interests. Elk Range funded the acquisition through its equity commitment from NGP Royalty Partners II, L.P.

The acquired assets include roughly 1,700 net royalty acres (NRAs) across DeWitt, Gonzales, and Karnes counties in Texas. This acquisition marks the third Eagle Ford Basin deal closed this year and includes 385 producing gross locations and approximately 2.1 net wells operated by top operators such as EOG, Devon, and Marathon Oil, making it the largest single purchase of the Elk Range team in the basin to date. This brings Elk Range’s total ownership in this basin to over 2,700 NRAs across DeWitt, Gonzales, Karnes, Webb, and Zavala counties.

Elk Range is an active buyer of producing mineral and royalty interests in the U.S., managing a portfolio consisting of approximately 42,000 NRAs with an interest in over 8,400 horizontal wells across the Permian, Uinta, Anadarko, Eagle Ford, Haynesville, and DJ Basins under the Elk Range Royalties, Luxe Minerals, 89 Energy II Minerals and Land Run Minerals platforms.

The Foley deal team was led by Partner Nick Peters and included Of Counsel Neal Bakare.

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