Global Outlook 2024 Report

Newsletter

Like this article?

Sign up to our free newsletter

Cornerstone acquires oil and gas interests in Citation-operated properties

Related Topics

Cornerstone Acquisition & Management, a sub-adviser to Centaur Performance Group, has acquired a portfolio of royalty interests in producing oil and gas properties located in Southern Oklahoma, operated by Houston-based Citation Oil and Gas.  

“This transaction is indicative of the type of private assets we like to target and acquire for our investors,” says Derren Geiger, portfolio manager of the Caritas Funds and chief operating officer of Cornerstone.
 
Cornerstone currently manages in excess of USD100m of oil and natural gas royalty interests diversified across 21 states and several hundred counties.
 
“We target properties located 100 per cent onshore within conventional basins and reservoirs whereby extraction costs are relatively low, well decline rates are predictable and production is largely consistent and unthreatened from both hurricanes and high extraction economics,” adds Geiger.
 
The transaction closed in October and terms were not disclosed.

Like this article? Sign up to our free newsletter

Most Popular

Further Reading

Featured