Craig Aasved, CEO of Shodair Children’s Hospital
Helena, MT
SITUATION
Craig is the CEO of Shodair Children’s Hospital in Helena, Montana, the only Children’s Miracle Network hospital in the state. The hospital had received mineral rights from generous donors throughout the years, and they had always received royalties from the rights. But the full potential of these assets was unknown. Craig wanted to see if there was a way to use the rights to help pay for a construction project at the hospital – a pool for the children they serve.
APPROACH
Craig reached out to Blue Flame Minerals and was connected with Lucas. Lucas helped their leadership team understand exactly what the hospital owns and how the location of these rights impacts their value, and he began developing a strategy for them to reach their goal.
RESULTS
During this process, some of the hospital’s acreage became available to lease. With Blue Flame’s help, Shodair was able to get three times the initial lease offer and include lease clauses to create ongoing value in the future.
At one point, Blue Flame alerted the leadership team of negative market signals that could significantly decrease the value of their assets. Sure enough, the price dropped, but thanks to Blue Flame’s execution, the terms were secured and the price locked in. Craig and his team were able to put together a sale that fully funded the pool project eight months ahead of schedule.