Denver-based Desert Peak Minerals and Houston-based Falcon Minerals said last week they agreed to combine in an all-stock transaction that values the combined enterprise at $1.92 billion with significant footprint in Permian Basin and Eagle Ford. Their announcement Jan. 12 said Desert Peak equity holders will own 73 percent of the combined company, which will remain focused on consolidating high-quality mineral and royalty positions in Permian Basin.
The combined company, which will be led by Desert Peak CEO Christopher Conoscenti, will have about 20 net wells. Projected combined production is 13,500 to 14,500 boed in 2022Q1 (50 to 53 percent crude oil, 73 percent from Permian Basin).