(MENAFN- Caribbean News Global) Phoenix Capital Group, a leading oil and gas mineral rights Acquisition company, has acquired an additional 1,500 net royalty acres in the Uinta Basin rounding out their acreage to 4,500 total net royalty acres in Duchesne County, Utah. This recent transaction is one of the most significant single acquisitions in the company's history.
DENVER–(BUSINESS WIRE)–Phoenix Capital Group , a leading oil and gas mineral rights company, has acquired 1,500 net royalty acres in Utah's highly productive Uinta Basin. The company has spent over $60MM to-date in the Uinta Basin.
Since April 2023, the newly acquired 1,500 net royalty acres have generated approximately $6.3 million in royalties income for the seller. Phoenix Capital Group adjusted the final purchase price accordingly. The assets have an estimated lifetime revenue of $144 million, demonstrating substantial ongoing income generation potential.
“We are proud to have secured more top tier acreage in Duchesne County, Utah,” said Adam Ferrari, CEO of Phoenix Capital Group.“Since our inception, our mission has been to acquire top-tier minerals in the best oil basins in the United States. This transaction affirms that we will continue to deliver on our core objective. The Uinta basin is home to some of the best oil-producing wells in the entire country, and Phoenix Capital Group continues to be the largest buyer of mineral rights in this region.”
Over the past decade, the Uinta Basin has seen expanding oil and gas production due to evolved drilling activity and advanced completion technology, unlocking the region's hydrocarbon potential. Phoenix Capital Group's latest acquisition provides the company with substantial royalty interests in an economically vital area for domestic energy production.
Phoenix Capital Group continues to strategically amass mineral rights with significant long-term upside for oil and gas royalty income. The company's portfolio now includes over $500 million in booked assets across key basins nationwide.
For more information on Phoenix Capital Group, please visit .
About Phoenix Capital Group:
Founded in 2019, Phoenix Capital Group Holdings, LLC and wholly-owned subsidiary, Phoenix Operating, are a leading oil operating and mineral rights acquisition company headquartered in Denver, Colorado. The family-owned company is a technology-led and client-centric organization dedicated to developing partnerships with its clients through property acquisitions, production operations, and investment opportunities. With a team of over 120 experienced professionals across five US offices, Phoenix Capital Group boasts decades of combined experience in the energy sector, focusing on capital deployment and asset management. Phoenix Operating is committed to domestic oil and gas development projects that maximize efficiency, minimize surface disturbance, and deliver lasting value for landowners and investors.
Contacts
Brynn Ferrari
...
Phoenix Capital Group Holdings, LLC
4643 S Ulster St Suite 1510, Denver, CO 80237
303-376-9778
The post Phoenix Capital Group Acquires 1,500 Royalty Acres in Utah's Prolific Uinta Basin appeared first on Caribbean News Global .
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