A press release from last week from Gateway Royalty II LLC:
CARROLLTON, Ohio, March 25, 2014 (GLOBE NEWSWIRE) -- via PRWEB - The principals of Gateway II have previously invested approximately $35.0 million through Gateway Royalty, LLC (Gateway) and have secured oil and gas royalty interests under approximately 20,000 acres in the Utica Shale.
The newly raised capital will allow Gateway II to continue Gateway's policy of acquiring a diversified portfolio of oil and gas royalty interests without incurring any debt.
Chris Oldham, President of Gateway II, said, "Gateway Royalty provides the mineral owner an opportunity to sell a portion of his or her royalty for cash today thereby creating instant liquidity for many personal reasons which may include getting out of debt, sending kids to college, paying medical bills, estate planning, asset diversification or providing working capital for their business."
Mr. Oldham further commented, "Gateway II has the "Cash in the Bank" and will close a royalty purchase as soon as the mineral owner's title has been confirmed and is clear of any outstanding encumbrances, which usually takes 30 to 90 days depending on title issues."
Doug Green, Vice President of Gateway II, said, "Over the last 20 months, Gateway has provided options to many families in eastern Ohio. Gateway II's financial strength will allow us to pay mineral owners quickly, without seeking outside financing."
Gateway II's counsel is Vorys, Sater, Seymour and Pease LLP, located in Columbus, Ohio and Sprouse Shrader Smith PLLC, located in Amarillo, Texas.
For more information, visit our Website at http://www.gatewayroyaltyllc.com send us an email, give us a call or please come see us.
Gateway Royalty II, LLC
Address: 111 2nd St SW, Carrollton, Ohio 44615 (in the old Huntington Bank building)
Phone number: 330-627-4200
Email address: firstname.lastname@example.org
Chesapeake Energy Corp,the Oklahoma-based firm is the No. 1 driller in Ohio.
Rig Count Interactive Map by Baker Hughes, an energy services company.
Shale Sheet Fracking, a Youngstown Vindicator blog.
The Ohio Environmental Council, a statewide eco-group based in Columbus.
Earthjustice, a national eco-group.
People's Oil and Gas Collaborative-Ohio, a grass-roots group in Northeast Ohio.
Concerned Citizens of Medina County, a grass-roots group.
No Frack Ohio, a Columbus-based grass-roots group.
Fracking: Gas Drilling's Environmental Threat by ProPublica, an online journalism site.
Pipeline, blog from Pittsburgh Post-Gazette on Marcellus shale drilling.
Allegheny Front, environmental public radio for Western Pennsylvania.