LandBridge Announces Agreement to Acquire 46,000 Surface Acres in the Southern Delaware Basin [Yahoo! Finance]
LandBridge Company LLC Class A Shares Representing Limited Liability Company Interests (LB)
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Source: Yahoo! Finance
Concurrent private placement to partially fund transaction HOUSTON, November 19, 2024 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 supports produced water operations, with current volumes of approximately 300 MBbls/d serviced by infrastructure owned and operated by VTX Energy, as well as assets ow
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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