Montego Minerals Fully Subscribes $18 Million Offering Spanning 16 Counties
Montego Minerals, an investor in oil and gas royalties and mineral rights, has fully subscribed its 1031 exchange-eligible portfolio, Coyote Plains Properties LLC, marking the firm’s 26th successfully raised offering. According to the company, the portfolio’s strong demand reflects continued investor confidence in Montego’s strategy and its reputation.
The $18 million offering launched in early June, as previously reported by AltsWire.
Cutler Gist, owner and managing member of Montego Minerals, spoke about the portfolio’s particularly fast fundraise: “Coyote Plains fully funding in a record 29 days underscores the continued appetite for placing 1031 exchange dollars into Permian Basin mineral real estate — especially when we’re electing to own these same assets alongside our valued investors.
Coyote Plains spans 29,262 gross acres across 16 counties, featuring 40 individual properties operated by six operators, including Diamondback, Exxon, and EOG. It includes 235 producing wells, 24 active permits, 56 drilled but uncompleted wells, i.e., DUCs, and room for 124 additional wells – offering a blend of current income and future development potential.
“As inflation remains elevated and energy costs continue to rise – U.S. electricity bills are climbing nearly 4% to 5% per year – investors are seeking hedges tied to real energy assets,” said Sean Caldwell, president of capital markets at Montego Minerals. “Energy-backed real estate, like our Coyote Plains portfolio, provides meaningful protection through royalty income in a high-inflation environment.”
Caldwell said he anticipates another portfolio launch, this one exceeding 38,000 acres, in the coming weeks. Earlier this spring, Montego Minerals announced the opening of its fourth income and growth offering and the 25th portfolio: Montego Capital Fund 4, LP, a $75 million offering.
More recently, it fully subscribed its 24th portfolio, White Rock Minerals, LLC. The $18.5 million offering 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.
The operators drilling wells on the property pay all drilling and operating costs. The fund sponsor, Montego Asset Management, collects royalty payments from the operators and distributes the funds monthly to investors.
Montego Minerals continues to build on its long-standing track record of sourcing, structuring, and managing institutional-grade mineral portfolios tailored for 1031 exchange investors and long-term holders. The firm remains actively engaged in new acquisition efforts to support future offerings.
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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