Desert Peak Minerals and Falcon Minerals said last week they completed their $1.42 billion combination to create Sitio Royalties. Sitio will focus on large-scale consolidation of high-quality mineral and royalty interests across diversified exploration and production operators. The transaction completed June 7 combined Desert Peak’s large Delaware Basin portfolio, backed by Kimmeridge Energy Management, with Falcon’s Eagle Ford, Austin Chalk and Marcellus assets.
Enverus said Sitio will start with 141,000 net royalty acres and net production of 15,487 boed (50 percent oil) – 74 percent from Permian, 20 percent from south Texas and 6 percent from Appalachian Basin.