Osprey Energy Acquisition Corp. announced today that it has reached a definitive agreement to acquire assets held by Royal Resources, a Blackstone owned entity, in exchange for $400 million cash and an ownership stake representing 47% of the outstanding common stock.

The acquired assets from Royal Resources represent 100% of Blackstone’s mineral interests in the Eagle Ford Shale.

The newly formed company will be called Falcon Minerals Corporation and has been valued at approximately $894 million. The company will be led by Osprey’s manage...

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