ELSR, LP (ELSR), purchases a family-owned company’s Oklahoma and Alabama mineral and royalty holdings.
FORT WORTH, Texas, Jan. 4, 2024 /PRNewswire/ — ELSR headquartered in Fort Worth, TX and owned by Presta’s Founder, Jonny Brumley, has recently purchased the Alabama and Oklahoma mineral and royalty assets of a family-owned oil company. These assets are spread over thirty counties in Oklahoma and two counties in Alabama, with most of the value concentrated in the Scoop play of Oklahoma.
Presta’s strategy is to build a portfolio of long-life assets in Texas, Oklahoma, and North Dakota that display shallow production declines, high margins, and upside potential. This set of Oklahoma and Alabama assets fits this strategy perfectly.
Presta has been active acquiring properties since August of 2018 and has successfully completed over thirty-one acquisitions in Texas, Oklahoma, and North Dakota. Presta acquired most of its properties from family companies or family trusts. Presta has earned a reputation of paying a fair price, treating sellers with respect, and closing deals. If you or your family are looking to exit the oil and gas business, then give Presta a call. You can find more information on our website at prestapetro.com.
SOURCE Presta Petroleum LLC