Houston-based Mesa Minerals Partners II LLC bought from a mystery seller a mineral and royalty portfolio spanning 15,000 net acres in the Haynesville shale.
Led by longtime landman Darin Zanovich as CEO, the company has experience in the shale play spread across northeast Texas and northwest Louisiana during his tenure with Haymaker, Talisman Energy and Samson Resources.
Mesa Mineral Partners controls the mineral rights to 472 existing natural gas wells with projected cash flow of $30 million over the next 12 months. In May, the company had secured equity commitments of $150 million from NGP Natural Resources XII LP and NGP Royalty Partners LP.
The first iteration of Mesa Minerals Partners LLC was backed by Quantum Energy Partners and also invested in the Haynesville shale and was sold for $135 million in December 2020 to a different mystery buyer.
The new natural gas wells are in the "core of the Haynesville in North Louisiana," according to the company, and there are nine active rigs there as of this month.
"The asset has robust existing cash flow that allows us to begin an immediate distribution plan for our investors," Zanovich said in a news release.
Beyond that, the company touted that about half of the active drilling permits in the Haynesville shale are in the acreage it has acquired, which bodes favorably for the gas assets in future years.