Dallas, TX, May 23, 2020 --(PR.com
)-- Rising Phoenix Resources (RPR) recently acquired a producing natural gas royalty asset in the Barnett Shale, Texas from an undisclosed seller. After announcing the launch of their fourth fund earlier this month, Rising Phoenix Resources (RPR) continues to experience growth, despite the recent unpredictable oil and gas market. Last week, the private-owned company, built upon four generations in the oil and gas business, closed on another mineral deal as they continue to deploy the capital for the third fund.
The minerals purchased by RPR are located in Tarrant County, Texas and feature producing natural gas royalties in the core of the basin under EagleRidge Energy. The operator had been focused primarily on the Barnett Shale, where they’ve operated over 1400 wells, spanning across a twenty-two-county area.
“We are truly in an unusual time, and we count it a privilege to be able to work with mineral owners during these unprecedented times,” said Rising Phoenix President, Jace Graham. The economic downturn, unemployment rates, COVID-19, and the OPEC oil wars, present challenges, but it’s also the best time to be acquiring oil and gas minerals while prices are so depressed. While many firms are locking down, we are making ourselves available to both mineral brokers and mineral owners at this time. We want to continue to be a resource to those who need to sell to free up cash.”
Earlier in May, RPR launched their fourth royalty fund, Rising Fund IV a $10 million, boutique oil and gas royalty offering targeted toward accredited investors looking to diversify their portfolio into alternative assets. It followed a series of three other successful placements from RPR. To learn more about their current fund, visit www.RisingFund4.com.
About Rising Phoenix Resources: Rising Phoenix Resources is built on four generations of family business and experience in the energy sector. Since 2009, RPR’s principal has successfully identified, evaluated, acquired and manages over $50 million in mineral and royalty assets throughout several of the top oil and gas basins throughout the United States.