Desert Peak, Falcon Close Merger Forming Sitio Royalties

Desert Peak—the largest independent Permian Basin pure-play mineral and royalty company—completed its all-stock merger with Falcon Minerals with the combined company based in Denver rebranding as Sitio Royalties.

Hart Energy Staff
Desert Peak, Falcon Close Merger Forming Sitio Royalties

Sitio Resources owns over 140,000 net royalty acres, normalized to a 1/8th royalty equivalent, over 105,000 of which are located in the Permian Basin. (Source: Hart Energy, Sitio Resources, Shutterstock.com)

Desert Peak Minerals and Falcon Minerals Corp. completed their merger on June 7, creating Sitio Royalties Corp.

“Sitio is guided by its commitments to best-in-class leadership and governance standards, capital discipline and a thoughtful approach to value-maximizing M&A,” commented Chris Conoscenti, CEO of Sitio who previously served as CEO of Desert Peak.

Desert Peak and Falcon Minerals had announced the merger agreement earlier this year to combine in an all-stock transaction. At the time of the announcement in January, the combined company was expected to have a significant Permian and Eagle Ford footprint and an enterprise value of $1.9 billion.

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