Rising Phoenix Capital, an investment firm specializing in oil and gas mineral royalty acquisitions, today announced a new strategic acquisition in the Midland basin. The mineral rights, located in Ector and Midland Counties, TX, are operated by ConocoPhillips and were acquired through the firm’s Maroon Bells Fund, an income-focused mineral portfolio that has delivered consistent cash distributions.
In a quarterly financial update, Granite Ridge Resources revealed it closed multiple transactions in Q2 2024, adding 16.4 net future drilling locations for $22.4 million (including $5.8 million of expected future drilling carries).