Montego Minerals Fully Subscribes $22.3M Flatiron Minerals Offering
Montego Minerals, a manager of oil and gas royalties and mineral rights, has fully subscribed its 1031 exchange-eligible portfolio, Flatiron Minerals LLC – its 28th successfully raised offering. The company said that the strong demand reflects continued investor confidence in Montego’s reputation for delivering high-quality mineral and royalty opportunities.
Launched last month, the $22.3 million Flatiron Minerals portfolio comprises a diversified package of royalty assets historically delivering both income and growth to accredited investors.
Spanning approximately 32,561 gross acres across eight counties in Texas and one in New Mexico, the portfolio comprises 46 individual properties operated by 14 premier operators, including Diamondback, Exxon, ConocoPhillips, Pioneer Resources, and Aethon.
Currently, Flatiron Minerals includes 289 producing wells, 37 drilled but uncompleted wells, or DUCs, 19 active permits that represent meaningful near-term development potential, and capacity for more than 151 additional wells – offering a combination of reliable cash flow and future development potential.
“Flatiron Minerals reached full subscription quickly, underscoring investor confidence in both the asset quality and Montego’s disciplined acquisition strategy. … [The] combination of established production and a strong operator-driven inventory reflect the strategic balance we target across all Montego portfolios.” said Gregg Frasure, director of acquisitions and engineering at Montego Minerals.
The company 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.
It’s been a productive year for Montego Minerals. In September, it fully subscribed its Permian Basin-focused Vaquero Minerals LLC after raising approximately $19.9 million; and in August, it fully subscribed Coyote Plains Properties LLC, an $18 million offering launched in early June and spanning 16 counties.
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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