Black Stone Minerals uses revolver borrowings to buy Noble interests

By Marisa Wong

Morgantown, W.Va., Nov. 29 – Black Stone Minerals, LP used about $35 million of borrowings under its revolving credit facility to help fund an acquisition, according to an 8-K filing with the Securities and Exchange Commission.

The company entered into an agreement on Nov. 22 to purchase mineral and royalty interests from Noble Energy Inc. subsidiaries for $335 million in cash.

Black Stone also used about $300 million of proceeds from a private placement of preferred units to fund the purchase price.

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

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