Rising Phoenix Royalties Announces Another SCOOP/Woodford Basin Overriding Royalty Interest Acquisition

Rhea-AI Summary

EOG Resources, Inc. is the well-site operator in a recent acquisition by Rising Phoenix Royalties, which purchased an overriding royalty interest in the SCOOP/Woodford Basin, McClain County, OK. The deal enabled the seller to cash out on inherited assets, while RPR utilized its expertise to resolve title complications, ensuring a smooth closing. RPR's process includes third-party geological analysis for valuation transparency. Established in 2009, RPR has managed over $75 million in oil and gas royalty assets.

Positive

• Successful acquisition of overriding royalty interest indicating potential revenue growth.
• Expert resolution of title complications demonstrates RPR's capabilities, enhancing operational efficiency.
• Supports market expansion in the SCOOP/Woodford Basin.

Negative

• None.

EOG Resources, Inc., one of United State's largest and astute exploration and production companies, is the operator of record 

DALLAS, May 5, 2022 /PRNewswire/ -- Rising Phoenix Royalties (RPR) reveals the purchase of an overriding royalty interest from an undisclosed seller in the SCOOP/Woodford Basin, located in McClain County, OK. EOG Resources, Inc. (NYSE: EOG), is the well-site Operator.

"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," explained Jace Graham, RPR CEO and Founder. "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.is one of the United State's largest natural gas and crude oil production and exploration companies, with proved reserves in the US, China, and Trinidad. EOG executes to keep the lowest possible operating cost that is consistent with strong environmental stewardship, performance, and safe, efficient operations.

The RPR royalty acquisition process includes an in depth reservoir analysis by a third party geological engineering firm with expertise in all US 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.

Rising Phoenix Royalties offers free royalty interest evaluations. Contact our team today at 214-949-4928 or minerals@rising-phoenix.com.

About Rising Phoenix Royalties

Rising Phoenix Royalties, Dallas, TX, is a privately held independent mineral and royalty interest acquisition company built on four generations of oil and gas industry expertise. Since 2009, RPR has successfully identified, evaluated, acquired, and managed incoming producing properties of over $75 million in mineral and royalty assets in oil and gas basins nationwide. Learn more at www.risingphoenixroyalties.com.

Rising Phoenix Royalties
214-949-4928 
royalties@rising-phoenix.com 
www.risingphoenixroyalties.com

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Contact:
Zach Sodolak
Marketing
Rising Phoenix Royalties 
zach@rising-phoenix.com

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SOURCE Rising Phoenix Royalties

FAQ

What is EOG's involvement in the Rising Phoenix acquisition?

EOG Resources is the well-site operator for the overriding royalty interest acquired by Rising Phoenix Royalties.

When was the acquisition of the overriding royalty interest announced?

The acquisition was announced on May 5, 2022.

What is the strategic importance of the SCOOP/Woodford Basin acquisition?

The acquisition enhances RPR's position in a key oil and gas region, potentially leading to increased revenue.

How does Rising Phoenix evaluate mineral assets for acquisition?

Rising Phoenix conducts in-depth reservoir analysis through third-party geological engineering firms for valuation.

What are the key benefits for sellers in this acquisition?

Sellers benefit from immediate financial cash-out and assistance with title issues, allowing a quick sale.