Mineral rights companies are making the rounds in shale plays with increasing frequency as they look to buy into hot drilling areas that offer investors deals with less risk than sinking money into stocks or other ownership alternatives.Luxe Minerals LLC is the latest, saying March 13 it raised about $254 million of equity commitments from NGP through NGP Natural Resources XI LP and the Luxe Minerals management team. Luxe Minerals will leverage the technical expertise of Luxe Energy, a company that successfully turned a 2.5x return on investment in 2016 by selling its Delaware Basin assets to Diamondback Energy Inc. (NASDAQ: FANG) just months after entering the play.Luxe Minerals is one of several mineral companies that have started to become active recently, tapping into mineral rights in shale plays, some keen to use their basin expertise to pick up acres.Luxe Minerals co-founders A. Lance Langford and Jeff Larson also were backed by a $524 million equity commitment from NGP in October.
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Source: Daily Dose of ShaleDirectories.com News