the company own, acquire and manage mineral interests in the Appalachian Basin with the objective of growing cash flow from our existing portfolio for distribution to stockholders. Our initial target area was guided by a strong technical team that identified the areas of the basin we believe have the highest potential economics, enabling us to acquire our current holdings of approximately 65,000 net mineral acres. Our focus has been on acquiring primarily non-producing minerals in developing shale plays, which has allowed us to deliver significant organic production and cash flow growth as operators have increasingly developed the core of the basin. We expect this to continue as only 17% of our existing portfolio by identified net proved, probable and possible (“3P”) locations have been developed as of June 30, 2022, which does not include the additional resource potential in our stacked pay areas.
Lead Underwriter
Raymond James and Associates, Inc., Stifel Nicolaus & Company, Incorporated
