Offering Summary — DST Underwriting

Canyon State Minerals LLC is a $25,700,000 energy offering acquiring 51,671 gross acres of mineral rights across New Mexico, Texas, and Louisiana.

Capital structure

Offering Equity$30.36M50.6% · $121,449 / unit

Offering Debt$29.64M

Offering price

$60.0M

Price / unit

$240,000

Units

250

Property age

12 yrs

Projected distribution rate

Avg 6.75%

Year-one distribution of 6.25% stepping to 7.20% by year seven.

The property

51,671 gross acres across 16 counties in NM, TX, and LA

$20,752,750 acquisition price

Canyon State Minerals LLC

—

New Mexico, Texas, and Louisiana (51,671 gross acres across 16 counties)

234 units

$20,752,750

100.0% of portfolio

Seller: —
Property manager: Montego Minerals

Sponsor

Montego Minerals

Asset Type

—

Location

New Mexico, Texas, and Louisiana (51,671 gross acres across 16 counties)

Units

234

Property Age

—

Offering Price

$25,700,000

Offering Debt

—

Offering Equity

$24,415,000

Offering LTV

—

Income % (Yr. 1)

—

Avg. Income (Full Term)

—

Minimum Cash Investment

—

Minimum 1031 Investment

—

Strengths

Broad acreage footprint of 51,671 gross acres across 16 counties
Targeted asset class in proven shale formations across 3 states

Concerns

Performance relies on third-party exploration and production operators
Capital raise is currently at 0% funded