Ryland Closes Royalty Purchase
Ryland has closed the purchase of a 1% gross overriding royalty on production from all petroleum and natural gas leasehold acreage held by Ryland's wholly owned subsidiary, Pebble Petroleum, in southeastern Saskatchewan. In consideration for the royalty acquisition, Ryland has paid to the owner USD one million in cash. The acquisition was the third purchase by Ryland of royalties on production from Pebble's Saskatchewan acreage, with Ryland now holding an aggregated 9% GORR on production from the acreage. The sellers have retained GORRS totaling 3%.