In November of 2023, Phoenix Capital Group expanded its already notable portfolio of land acquisitions with the acquisition of 896 net royalty acres in Weld County, Colorado. This addition encompassed royalty and mineral interests, with a total of 96 permitted wells on the acquired land.
The Northern Colorado land was acquired from Source Rock Royalties Ltd. for $7 million.
Unlocking Possibilities
Earlier in 2023, Phoenix Capital Group embarked on a new venture within the industry by establishing a wholly-owned subsidiary, Phoenix Operating. Comprising a diverse team of highly skilled individuals, Phoenix Operating is focused on developing its oil and gas production capabilities while prioritizing efficiency and minimizing surface disruption.
David Scadden, Vice President of Operations for Phoenix Operating, expressed enthusiasm about the Northern Colorado land acquisition, emphasizing its potential to extend the company’s footprint further and deliver enhanced value to stakeholders.
The acquisition aligned seamlessly with Phoenix Operating’s strategic objectives, positioning the company to explore various opportunities and optimize returns for investors and landowners.
The efforts of the Phoenix Operating team are concentrated on three key oil and gas basins in the United States, including:
The Team Behind the Expansion
Central to the success of this expansion was the dedicated team at Phoenix Operating, led by David Scadden and supported by industry experts in geology, regulatory affairs, and reservoir engineering.
As Phoenix Operating has continued to forge partnerships and pursue investment opportunities, the Northern Colorado land acquisition underscored its commitment to strategic growth and development across diverse regions in the United States.
About Phoenix Capital Group
Founded in 2019, Phoenix Capital Group Holdings, LLC is a prominent oil and gas mineral rights acquisition, investment firm, and operated working interest company dedicated to discovering untapped value on behalf of landowners across the United States. The family-owned company is a technology-led and client-centric focused organization dedicated to developing partnerships with its clients through property acquisitions and investment opportunities. With a team of experienced professionals with expertise in software development, engineering, and finance, Phoenix Capital Group boasts over 60 years of combined experience in the energy sector, focusing on capital deployment and asset management.