PermRock Royalty Trust Closes Initial Public Offering
Vinson & Elkins advised PermRock Royalty Trust in connection with its initial public offering of 6,250,000 trust units, representing an approximate 51.4% beneficial interest in the Trust, at $17.00 per unit. Boaz Energy II, LLC, the sponsor of the Trust, is selling the units being offered.
The offering closed on May 4, 2018.
PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas.
The V&E corporate team was led by partners Dave Oelman and Mike Telle with assistance from associates Anne Peetz, Eryn Roberts and David Lassetter. Also advising were partner Bryan Loocke, senior associate Alan Alexander and associate Erin Mitchell; and partners Jim Meyer and Ryan Carney and associate Glen Ellsworth.
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