DENVER--(BUSINESS WIRE)--Phoenix Capital Group Holdings, LLC, doing business as Phoenix Capital Group, is excited to announce it has acquired more than 560 net mineral acres for a purchase price that exceeds $6 million. The mineral interests are all located in Williams County, North Dakota, and more specifically in township 158N range 96W.
This most recent acquisition helps to expand Phoenix Capital Group's geographic reach across the state of North Dakota while also further diversifying its expansive mineral portfolio.
Williams County, ND, is a highly desirable area for oil and gas mineral rights. According to Phoenix Capital Group, Williams County, ND, has consistently been one of the top oil-producing counties in ND since the Bakken boom took off back in the early 2000s. There are 35 unique operators in the region that have drilled and completed over 6,000 oil and natural gas wells.
The net mineral acres acquired by Phoenix Capital Group are highly attractive assets in a high-quality oil basin.
The interests acquired by Phoenix Capital Group in 158N-96W have several new wells drilled by Continental Resources, and the early data on these wells proves this area to be amongst the best acreage in all of the Bakken. Continental had not been active in the township for many years, but these recent results could encourage Continental to return to this township for further development.
Since Phoenix Capital Group was able to analyze the total value of the minerals quickly and efficiently, the company was able to offer a substantial purchase price that led to a quick and fair closing between all parties.
“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,” stated 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.”
Phoenix Capital Group is a leading oil and gas mineral rights acquisition and non-operated working interest enterprise focused on identifying untapped value on behalf of landowners throughout the United States. The company has been in operation since 2019, with headquarters in Denver and satellite offices in Casper, Wyoming, and Irvine, California.
As a family-owned company, Phoenix Capital Group prioritizes capital deployment and asset management projects that directly impact and benefit individual landowners and investors. The company helps landowners maximize the value of their property's mineral rights via a consultative process that often leads to a sale or an oil and gas lease.
More information about Phoenix Capital Group as well as its offerings can be found on the company's website, www.phxcapitalgroup.com.