Montego Minerals Closes 24th Portfolio, A $18.5 Million Offering in the Permian Basin
By Staff
Montego Minerals, an investor in oil and gas royalties and mineral rights, has announced the full subscription of its 24th portfolio, White Rock Minerals, LLC. The $18.5 million offering is an all-cash investment opportunity primarily located in the United States’ Permian Basin.
According to Montego, White Rock represents a diversified portfolio of royalty assets historically delivering both income and growth to accredited investors. The portfolio expands across approximately 150,683 gross acres, including 13 counties in Texas and two counties in Wyoming. The portfolio consists of 194 individual properties and five operators, including Diamondback, Exxon, EOG, ConocoPhillips, and Double Eagle.
Montego also reported that the acreage has 527 producing wells, 55 drilled but uncompleted (DUCs), 28 active permits, and room for more than 359 additional wells to be drilled.
“Our White Rock Minerals footprint represents one of the largest acquisitions in our company’s history,” said Sean Caldwell, president of capital markets. “Our team dedicated significant time and resources to assembling a truly diversified portfolio of income- and growth-oriented real estate assets.”
Caldwell continued by stating that Montego believes that White Rock is well-positioned to deliver consistent cash flow to its owners, despite ongoing energy price volatility, due to its more than 500 producing wells.
“The primary risks for mineral owners remain commodity pricing and development timing. At Montego, we’ve spent decades refining our acquisition strategy to mitigate these challenges by targeting assets that generate royalty income today,” Caldwell continued. “We further reduce pricing risk through diversification – across operators, geographies, and commodity types. As we often say internally, ‘We’d rather own 1,000 wells producing $1 a day than a single well producing $1,000.’”
The full subscription of White Rock follows on what has been a busy time for Montego. Just last month, the firm launched Montego Capital Fund 4, LP, a $75 million offering, and, in February, the company fully subscribed its 23rd portfolio, a $17 million offering. In late 2024, Montego launched a $16 million offering and closed an $18 million portfolio. All of these offerings are located in the Permian Basin.
Additionally, the company announced that their next 1031-eligible portfolio, Coyote Plains Minerals, is expected to launch in the coming weeks.
Montego Minerals is a three-generation family office of petroleum engineers and geologists that has evaluated and purchased minerals and royalties in the Permian Basin for the last 50 years.
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