In spring 2023, Phoenix Capital Group broadened its presence in North Dakota by acquiring over 560 net mineral acres. This expansion not only extended their reach but also added to their already diverse mineral portfolio.
The purchase price of the acreage exceeded $6 million, with all the land located in Williams County, North Dakota, within township 158N, range 96W.
The company was enthusiastic about the potential benefits that this acquisition offered to both itself and its customers, especially considering the promising early data.
Details of the Acreage
Phoenix Capital Group found these mineral acres appealing due to Williams County’s status as a sought-after area. Since the early 2000s, during the onset of the “Bakken boom,” the county has remained a leading region in the state for oil production. This is reflected by the fact that there are 35 operators in the area that have completed more than 6,000 wells for oil and natural gas.
There are several wells present on the land that were drilled by Continental Resources. Early data on these wells already showed they could be among some of the best acreage in the entire Bakken Formation, which stretches under parts of North Dakota and Montana in the U.S. and Manitoba and Saskatchewan in Canada.
Phoenix Capital Group’s Advantage
Using Phoenix Capital Group’s proprietary research practices, the company was able to quickly analyze the total value of the minerals in this acreage and, as a result, offer a substantial purchase price that led to a fair closing for all parties involved.
“This transaction reflects our ability to close large transactions in the Bakken, and we are proud of the asset we’ve been able to acquire,” said Brynn Ferrari, CMO of Phoenix Capital Group. “Our team at Phoenix Capital Group works diligently to offer the most competitive prices for acquisitions, and we look forward to further expanding our presence.”
At the core of Phoenix Capital Group is a prioritization of capital development and asset management projects that directly impact and benefit both individual landowners and investors alike. That has led the company to significant growth since it launched only five years ago.
The company’s headquarters are in Denver, and they have satellite offices in Irvine, California, and Casper, Wyoming.
This new mineral acreage is another example of how Phoenix Capital Group has identified untapped value throughout 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.
