Rising Phoenix Royalties disclosed on Jan. 27 an acquisition of royalty acreage in the Woodford Basin in Oklahoma’s Stephen County—marking the Dallas-based company’s third deal so far this year.
“The Stephens County acquisition is a great example of our ability to assist sellers with smaller to medium size deals,” Jace Graham, CEO and founder of Rising Phoenix Royalties, commented in a release from the company.
The Stephens County acquisition comprises roughly 5 net royalty acres (49% oil / 51% natural gas) from an undisclosed seller. The terms of the transaction were also not disclosed. Ovintiv Inc. is the wellsite operator, according to the release.
“Many larger private equity-backed royalty acquisition companies, as a rule, won’t even look at a deal if it’s smaller than $1 million in purchase size,” Graham added.
Since 2009, Rising Phoenix Royalties has successfully identified, evaluated, acquired, and managed incoming producing properties of over $140 million in mineral and royalty assets in oil and gas basins nationwide, the company release said.
Built on four generations of oil and gas industry expertise, Graham said the privately held independent mineral and royalty has the ability to purchase royalties ranging in size from $50,000 to $10 million.
“Our team of mineral advisors give each client the same level of respect, expertise and due diligence whether they’re selling thousands of royalty acres or just a few,” he said.
Earlier this month, Rising Phoenix announced royalty acquisitions in the Marcellus Shale and Eagle Ford Basin.
The Marcellus Shale transaction on Jan. 6 included 98 net royalty acres in Pennsylvania’s Washington County. Meanwhile, the Eagle Ford deal, announced Jan. 13, consisted of 121 net royalty acres in Karnes County, Texas.
The wellsite operator of both acquired assets are top-tier E&P companies—Range Resources Corp. in the Marcellus and Marathon Oil Corp. in the Eagle Ford Shale.
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