Rising Phoenix Royalties Closes Eagle Ford Basin Oil, Natural Gas Royalty Acquisition.
MANews-(C)2009-2022
US-based mineral and royalty interest acquisition company Rising Phoenix Royalties has closed a 90% oil/10% natural gas royalty acquisition of 121 net royalty acres from an undisclosed seller in the Eagle Ford Basin, Karnes County, Texas, the company said.
Houston, Texas based Marathon Oil Corp. (NYSE: MRO) is an independent production and exploration company that focuses on United States resource plays.
Their multi-basin portfolio includes the Eagle Ford in Texas, SCOOP and STACK in Oklahoma, the Permian in New Mexico, and the Bakken in North Dakota with a production mix of approximately 50% oil and 50% gas/NGL.
The RPR royalty acquisition process includes a reservoir analysis by a third-party geological engineering firm with expertise in all US Basins.
The third-party report provides royalty owners transparency in knowing the valuation data used for the purchase...
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