Rising Phoenix Royalties (RPR) announced on May 5 the purchase of an overriding royalty interest from an undisclosed seller in the SCOOP/Woodford Basin, located in McClain County, Okla.—marking the Dallas-based company’s fourth deal so far this year.
"This acquisition was an opportunity for us to expand our position in the Mid-Con while helping the seller cash out on an overriding royalty interest they had inherited many years ago," Jace Graham, RPR CEO and founder, said in a statement. "Our team was able to go above and beyond to cure several nuances associated with the override's title that ultimately allowed a clean closing with the seller."
"At Rising Phoenix we have the expertise, gleaned from decades of underwriting numerous oil and gas royalty transactions, to help streamline the due diligence process, especially in situations where there may be issues with the assets title or other ownership complications '' continued Graham. "It's understandable that sometimes people just don't know where to begin with royalty title problems. That's where our team of professionals come in to sort out the title defects so the mineral owner can sell their assets quickly and efficiently."
Houston based EOG Resources Inc.—one of the largest natural gas and crude oil production and exploration companies in the U.S.— is the well-site operator.
The RPR royalty acquisition process includes an in depth reservoir analysis by a third party geological engineering firm with expertise across all the U.S. Basins. The third party research provides royalty owners peace of mind and transparency in knowing the valuation data used in the purchase offer formulation.
RPR clients choose to sell their mineral assets for many reasons including but not limited to immediate financial need, optimizing tax benefits, funding retirement, estate planning, estate liquidation, and investment portfolio diversification.
In January 2022, Rising Phoenix announced three royalty acquisitions in the Marcellus Shale, Eagle Ford Basin and another in Woodford Basin.
The Stephens County acquisition on Jan. 27 included roughly 5 net royalty acres (49% oil / 51% natural gas) from an undisclosed seller.
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