Black Stone Minerals to fund acquisition with credit facility draw

By Tali Rackner

Norfolk, Va., April 22 – Black Stone Minerals, LP plans to use borrowings under its credit facility to fund its $102 million acquisition of an oil and gas mineral asset package, according to a press release.

The transaction, which was entered with Freeport-McMoRan Oil and Gas LLC, will also be funded with cash on hand.

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

Based in Houston, Black Stone owns oil and natural gas mineral interests in the United States.

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