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Elk Range Royalties acquires 250,000 net royalty acres in DJ Basin, US [Yahoo! Finance]

Chevron Corporation (CVX) More Company Research Source: Yahoo! Finance

Last chevron corporation earnings: 5/1 06:45 am Check Earnings Report

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This transaction, worth $905m, is part of Elk Range's strategy to acquire royalty assets in key basins. The newly acquired assets are being developed by operators such as Chevron and Civitas, which together account for more than half of the wells spud last year, stated Elk Range Royalties. The DJ Basin is a large geological region in north-eastern Colorado and south-eastern Wyoming, stretching into parts of Nebraska, South Dakota and Kansas. This deal features a combination of current production, near-term activity via drilled but uncompleted wells and long-term growth potential from undeveloped reserves, stated Elk Range. Elk Range Royalties CEO Charlie Shufeldt said: "This deal marks a milestone achievement for our team demonstrating our ability to underwrite and close on large assets. We remain committed to expanding our portfolio with high-quality royalty assets in proven basins. “The DJ Basin presents some of the best operator economics in the US, and this acquisition [Read more]

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