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Gateway Royalty II Raises Millions To Acquire Utica Interests

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March 25, 2014

The royalty acquisition company Gateway Royalty II LLC, which has secured oil and natural gas interests for about 20,000 Utica Shale acres, has raised $58.5 million in capital through a private offering, the company said March 25.

The nearly $60 million in capital will support Gateway Royalty II’s future debt-free acquisitions of Utica oil and natural gas interests, the company said.

The principals of Gateway Royalty II had previously invested about $35 million through Gateway Royalty LLC, the company added.

Chris Oldham, the president of Gateway Royalty II, commented that the ...

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