Black Stone Minerals(US:BSM) Prnewswireยท2025-08-19 19:08Core Insights - Ellipsis U.S. Onshore Holdings LLC has completed two significant transactions to enhance its position in key U.S. onshore basins through the acquisition of non-operated working interests and a large-scale farmout agreement [1] Group 1: Transactions Overview - The first transaction involves the acquisition of non-operated oil and gas assets in the Permian Basin, which includes current net production of approximately 4,000 barrels of oil equivalent per day and over 600 gross remaining drilling locations [2] - The second transaction is a Farmout Agreement with Black Stone Minerals, L.P. covering approximately 270,000 gross acres in East Texas, providing Ellipsis with the exclusive right to earn non-operated working interests in BSM's Haynesville acreage [3] Group 2: Strategic Implications - The Permian acquisition strengthens Ellipsis' Delaware Basin foundation and aligns with its strategy of building scale through high-margin, low-cost, non-operated assets, with an expected daily average production of 20,000 barrels of oil equivalent for the remainder of 2025 [2] - The Farmout Agreement includes a tiered commitment structure that escalates over five years, starting with a minimum of six wells in 2026 and increasing to 25 wells annually by year five, allowing for disciplined and capital-efficient scaling of exposure to Haynesville [3] Group 3: Company Background - Ellipsis, founded in 2023, is focused on acquiring and developing large-scale, producing oil and gas assets across the U.S., targeting non-operated working interest acquisitions exceeding $100 million [5] - Westlawn Group, founded in 2021, is a private investment firm that invests in both operated and non-operated upstream assets, maintaining a broad investment mandate across various regions including the U.S., Canada, and Latin America [6]