LandBridge Announces Agreement to Acquire 46,000 Surface Acres in the Southern Delaware Basin
LandBridge Company LLC Class A Shares Representing Limited Liability Company Interests (LB)
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Source: Business Wire
Acreage offers existing cash flows and significant future revenue growth opportunitiesIncreases LandBridge holdings to ~272,000 surface acres including previously announced transactionsConcurrent private placement to partially fund transaction HOUSTON--(BUSINESS WIRE)--LandBridge Company LLC (NYSE: LB) (“LandBridge”) today announced it has entered into a purchase and sale agreement (the “Agreement”) to acquire approximately 46,000 largely contiguous surface acres in the Southern Delaware Basin known as the Wolf Bone Ranch for total consideration of $245 million in cash from a subsidiary of VTX Energy Partners, LLC, a Vitol investment (the “Acquisition”), subject to customary purchase price adjustments and closing conditions.Located adjacent to LandBridge’s existing surface acreage in Reeves County, Texas, the Wolf Bone Ranch is well-positioned at a strategic intersection of oil and natural gas exploration and transportation, with access to the Waha Gas market hub. The land also sup
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News
- LandBridge Closes Acquisition of 46,000 Surface Acres in the Delaware Basin [Yahoo! Finance]Yahoo! Finance
- LandBridge Closes Acquisition of 46,000 Surface Acres in the Delaware BasinBusiness Wire
- LandBridge Co LLC (NYSE: LB) had its "underperform" rating re-affirmed by analysts at Royal Bank of Canada. They now have a $25.00 price target on the stock.MarketBeat
- Should You Invest in LandBridge Company LLC (LB)? [Yahoo! Finance]Yahoo! Finance
- LandBridge Co LLC (NYSE: LB) had its price target raised by analysts at Piper Sandler from $39.00 to $79.00. They now have a "neutral" rating on the stock.MarketBeat