Denver-based Sitio Royalties and Austin-based Brigham Minerals stated Sept. 6 they are going to mix in an all-stock merger with an combination enterprise worth of about $4.8 billion. The mix brings collectively two of the biggest public corporations within the oil and gasoline mineral and royalty sector with complementary high-quality belongings in Permian Basin and different oil-focused areas, together with Eagle Ford.
The mix could have 259,510 web royalty acres with Q2 web manufacturing of 32,800 boed and 50.3 web line-of-sight wells operated by a various set of E&P corporations.
Sitio shareholders will obtain 54 p.c of the mixed firm. It will likely be led by Sitio’s administration group and retain the Sitio identify. Chris Conoscenti, CEO of Sitio, stated, “Our mixed firm would be the largest publicly traded mineral and royalty firm within the U.S. by enterprise worth that’s centered on consolidation throughout a various set of operators and geographies.”