Dallas Business Journal
By Nicholas Sakelaris
Not everyone is sweating sub $70 crude oil.
If you’re in the business of buying oil and gas minerals, it’s a great time to buy.
“We’re always acquiring assets. I definitely think that creates a better acquisition environment,” said the 34-year-old University of Oklahoma graduate. “If you have $150 oil or $100 oil, it is harder to buy oil assets and the values get disjointed from what we think.”
Addax Minerals buys minerals from owners who decide they want to get out of the leasing game, trading in monthly royalty checks for one large lump sum.
The company started as Cherokee Horn Production in 2006, where Watts was a vice president, and later evolved into Addax Minerals with Watts as the president. Cherokee Horn Production started out flipping leases in the hayday of the Barnett Shale from 2006 to 2008. When natural gas prices collapsed in late 2008, the company found itself at a crossroads.Read more