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Black Stone Minerals to repay revolver balance via asset sale proceeds
By Marisa Wong
Los Angeles, June 4 – Black Stone Minerals, LP said it plans to reduce the outstanding balance on its revolving credit facility using proceeds from an asset sale.
The company entered into two separate agreements to sell mineral and royalty properties in the Permian Basin for gross proceeds of about $155 million, according to a news release.
Black Stone expects its total debt levels to be under $200 million after closing the transactions.
Black Stone is an oil and natural gas mineral rights company based in Houston.
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