Evolution Petroleum to buy Midland Basin mineral, royalty interests for USD 16 million
Reuters2026/08/18 20:01- Evolution Petroleum agreed to buy Midland Basin mineral and royalty interests for about USD 16 million, with an Aug. 1 effective date.
- Closing expected around Aug. 21; assets cover about 3,420 net royalty acres across multiple West Texas counties.
- Interests forecast to generate about USD 3.9 million in next-12-month cash flow, implying a 4.1x multiple.
- Deal expected to lift cash flow per share; mineral and royalty contribution projected near 20% of pro forma fiscal 2027 asset cash flow.
- Funding planned from common stock offering proceeds, cash, borrowing capacity; current production estimated about 210 BOE/d with 65% liquids.
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