Texas Pacific Land Corp. (TPL) closed a pair of Permian Basin acquisitions—one for oil and gas mineral interests in the Delaware Basin, the other for Midland Basin surface acreage—for a combined $169 million cash.
TPL acquired mineral interests across approximately 4,106 net royalty acres located in northern Culberson County, Texas, the company said on Aug. 27. The mineral interests, leased and operated by Coterra Energy, overlap existing TPL royalty acreage in current and anticipated drilling and spacing units, “enhancing TPL’s net revenue interests in existing and future oil and gas wells,” the company said.
The acquired mineral interests also overlap with TPL’s surface acreage.