Hope this helps to explain a bit about the companies UJO have taken up the Mineral Royalties with!
More news and, true to form for 2024 to date, it’s GOOD news AGAIN!
This RNS is pretty intensive, one that requires quite a bit of thinking about and some investigation.
However, the mineral royalties purchased that shareholders are aware of, have already returned revenue and they were nowhere near as many as this so it is going to be very interesting to get updated on the rate of return.
The companies associated with these royalties are certainly not fly-by-nights, they are seriously well known and respected organisations.
Continental Resources https://www.clr.com describe themselves as “a proudly independent and fiercely pro American energy company” with a premier portfolio of assets in unconventional resource plays in North Dakota, Montana, Oklahoma, Wyoming and Texas.
ROCC Operating LLC operate in the Eagle Ford Shale which is described as quite possibly the largest single economic development in the history of the state of Texas and ranks as the largest oil & gas development in the world based on capital invested.
HessCorporation, https://www.hess.com a leading independent energy company who’s “purpose is to be the world’s most trusted energy partner’. Hess has earned a reputation for top-quartile performance in unconventional oil and gas production in the U.S. Our Onshore team is recognized as an industry-leading operator in a key U.S. shale play — the North Dakota Bakken and Three Forks formations — where they produce shale oil and gas.
Chord Energy, https://www.chordenergy.com a premier operator in the Williston Basin, acquiring, exploiting, developing and exploring for crude oil, natural gas, and natural gas liquids in the Williston Basin. The Williston Basin is a large sedimentary basin located in North Dakota, Montana, South Dakota, and the Canadian provinces of Saskatchewan and Manitoba. It’s known for its significant oil and natural gas reserves, particularly within the Bakken Formation, which has been a focal point for oil extraction in recent years due to advancements in hydraulic fracturing.
Burlington Resources Oil & Gas Company LP owns and operates oil and gas wells. The Company was formerly known as Meridian Oil Inc. and changed its name to Burlington Resources Oil & Gas Company LP in July 1996. The Company was incorporated in 1981 and is based in Houston, Texas. Burlington Resources Oil & Gas Company LP operates as a subsidiary of ConocoPhillips. More Information can be found here https://www.shalexp.com/burlington-resources-oil-gas-company-lp
WXP Energy merged with Devon Energy a few years ago, lots of info here: https://investors.devonenergy.com/investors/press-releases/press-release-details/2020/Devon-Energy-and-WPX-Energy-to-Combine-in-Merger-of-Equals-Creating-a-Leading-Energy-Company-Focused-on-Generating-Free-Cash-Flow-and-Return-of-Capital-to-Shareholders/default.aspx
Grayson Mill Energy, LLC https://graysonmillenergy.com is a Houston-based exploration and production company focused on the acquisition and development of oil and gas assets within various US unconventional resource plays with a focus on the Williston basin in North Dakota and Montana. The company is experiencing tremendous growth in the Williston Basin and the intention is to continue to generate value through acquisitions and the creative application of innovative drilling, completion, and production techniques with a focus on continuous improvement.
Kraken Operating LLC https://krakenoil.com
Kraken Resources is dedicated to operations in the Williston Basin of Montana and North Dakota. Since inception in 2012, Kraken has drilled hundreds of wells and currently operates more than 330 wells in Williams and McKenzie Counties in North Dakota, as well as Richland and Roosevelt Counties in Montana. We have accumulated approximately 170,000 net leasehold acres with over 10 years of drilling inventory. More well info can be found here: https://www.shalexp.com/kraken-operating-llc
I have only spent an hour since seeing this RNS looking at the companies involved with these mineral resources and they are certainly impressive. Please excuse any errors if there are any, I will look a lot closer over the next few days
Union Jack management are certainly powering forward with their efforts to build a sustainable revenue structure in the United States and I can see that the income from these assets and investments are going to outweigh the UK income stream in the not too distant future.
Again I say, an exciting time ahead for the company and us, the shareholders
