Black Stone to fund Wattenberg Field purchase with facility draw

By Tali Rackner

Norfolk, Va., May 10 – Black Stone Minerals, LP plans to use borrowings under its credit facility to fund its $35 million acquisition of an interest in 4,800 gross acres in the Wattenberg Field in Weld County, Colo., according to a press release.

The agreement, which was entered into with an undisclosed seller, 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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