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Bracewell Counsels Freeport-McMoRan Oil & Gas in $102 Million Mineral Package Acquisition by Black Stone Minerals, L.P.

HOUSTON – Bracewell LLP is representing Freeport-McMoRan Oil & Gas (FM O&G) in its sale of an oil and gas mineral asset package to Black Stone Minerals, L.P. for $102 million. The package includes 1.2 million gross mineral acreage in 20 states, with the majority in Texas, Louisiana, and Arkansas, and estimated average daily production of approximately 850 Boe/d.

The transaction will be funded with cash on-hand and borrowings under Black Stone Minerals’ credit facility.

Closing is expected to be completed by the end of the second quarter of 2016.

FM O&G is a U.S.-based natural resources company which operates large, long-lived, geographically diverse assets with reserves of copper, gold, molybdenum, cobalt, oil and natural gas.

Bracewell attorneys working on the case include:

Partners: Gray H. Muzzy

Associates: G. Adam Dempsey