Black Stone Minerals is set to acquire a package of mineral and royalty assets spread across 20 US states from US independent Noble Energy for $340 million, writes Caroline Evans.

The assets include 140,000 net mineral acres, 380,000 gross acres of non-participating royalty interests, and 600,000 gross acres of overriding royalty interests. The deal is the single largest acquisition in Black Stone's history, chief executive Tom Carter told an investor call.