Noble Energy Unloads $340 million in Holdings Including Some in the SCOOP

Oklahoma SCOOP holdings of Noble Energy are part of a $340 million divestiture deal by the company.

It includes millions of acres of mineral rights and royalty interests in Oklahoma, Texas, North Dakota and other states. The buyer is Black Stone Minerals headquartered in Houston, Texas.

The purchase expands Black Stone’s position in the STACK and SCOOP plays in the state. But the overall purchase includes 1.1 million gross mineral acres, 380,000 gross acres of non-participating royalty interests and 600,000 gross acres of overriding royalty interests. And those assets produce nearly $34 million a year.

In addition to the SCOOP play in Oklahoma, assets in the Granite Wash play in Texas were bought by Black Stone Minerals.

The company is funding the purchase primarily by the private placement of newly issued Series B Cumulative Convertible Preferred Units to an affiliate of The Carlyle Group.

The latest acquisition brings Black Stone’s 2017 purchase totals to $500 million on 135 transactions. The purchases range from the STACK and SCOOP plays to the Bakken/Three Forks plays, the Powder River Basin, the Central Basin Platform, the Cotton Valley play and various other plays in East Texas.

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