On October 28, 2016, Cornerstone Acquisition & Management Company LLC acquired Cobra Petroleum Company, LP. This acquisition came to us through a private negotiation that began in early September 2016 (when WTI was priced in the low $40’s) with an effective date of October 1, 2016.
Highlights of the portfolio include the following:
- Mineral and/or royalty assets in 17 states and 317 Counties
- 400+ Oil and Gas E&P Companies operating the assets (Hess, XTO, Denbury, Chesapeake, Newfield…)
- Interests in 10,000+ individual wells
- Excellent positioning in the Bakken, Marcellus, Mid-Continent and all throughout Texas
- A nearly equal balance between oil and natural gas production
- Upside potential through non-producing mineral acreage