Phoenix Capital Group Closes over 4,000 Net Royalty Acres in Colorado from City of Thornton
Transaction is one of the largest mineral acquisitions in DJ Basin history
DENVER, Nov. 10, 2022 /PRNewswire/ -- Phoenix Capital Group Holdings, LLC , doing business as Phoenix Capital Group, acquired over 4,000 net royalty acres for a purchase price exceeding $33MM USD. Phoenix Capital Group acquired the mineral interests in Weld and Adams Counties from the City of Thornton, Colorado. This acquisition marks one of the largest mineral rights transactions in the prolific Denver-Julesburg (DJ) basin of Colorado and represents a substantial win for the City of Thornton, its residents, and the oil and gas community.
Thornton's mineral interests proved to be a challenging test, as many of the holdings involved complicated tracts with several types of title challenges. Despite these title challenges, Phoenix Capital Group's industry-leading title team successfully completed the due diligence within a compressed timeframe to meet the city's needs. Justin Arn, Chief Land and Title Officer at Phoenix Capital Group, led the title verification on this project with over fifteen members of his elite title team. Phoenix Capital Group's ability to move quickly allowed the city to benefit from current market conditions and maximize the value of its assets.
"Thornton's mineral holdings included numerous complicated tracts, with a variety of title challenges. Resolving title issues and arriving at a marketable portfolio took several weeks," shared Scott Twombly, Real Property Manager for the City of Thornton. "At all times, the process was open and professional. It was a pleasure working with Phoenix Capital Group, and we are very pleased with the outcome."
Having closed on November 4, 2022, this mineral rights transaction marks an important milestone for Phoenix Capital Group. With this acquisition, the company strengthens its spotless track record in the oil and gas industry and expands its geographical reach into Colorado. This is a significant step forward in Phoenix Capital Group's goal to become the leader in the mineral rights space.
The company's disruptive business model has led to aggressive growth into key oil and gas basins across the United States and this acquisition illustrates the reasons so many mineral owners have chosen to work with the dedicated team of professionals at Phoenix Capital Group. As soon as the City of Thornton made public its intention to divest a large portion of its mineral rights in Colorado, Phoenix Capital Group mobilized its team, handily won the bidding process, and ultimately closed the transaction on time and per contract.
"Our business model is disrupting this industry. For too long, mineral owners have been saddled with noncompetitive bids from unsavory and at times unethical and dishonest mineral shops," said Curtis Allen, Partner and Chief Financial Officer for Phoenix Capital Group. "We've made it our personal mission to change this space permanently and for the benefit of the community. By changing the traditional capitalization sources and creating an honest, fair and efficient process, we are changing the mineral owner's experience from the "used-car lot" feel they've traditionally been force-fed, to a transparent and high-touch partnership that Phoenix Capital Group is offering."
Phoenix Capital Group has become one of the most trusted companies in the mineral acquisitions space,acquiring tens of thousands of acres of both mineral rights and leasehold interests in the last year. The company attributes this success to its innovative business model that prioritizes the needs of landowners and Phoenix Capital Group's growing list of everyday investors over that of Wall Street banks and Private Equity firms that have historically dominated the oil and gas industry.
The classic story of David versus Goliath is really symbolic of Phoenix Capital Group's journey of competing in the oil and gas industry according to Lindsey Wilson, managing member and Chief Operating Officer. "In the beginning, we were out-capitalized a hundred to one in available resources compared to our competition, but what we lacked in funding, we more than made up for with an unshakable perseverance and determination."
Headquartered in Denver, Colorado, Phoenix Capital Group has also made a commitment to expansion, with satellite offices in Irvine, California and Casper, Wyoming. The company plans to continue its growth in the coming years and is confident that its unique business model will continue to bring value to land owners all across the United States.
"Our business goal is quite simple: Bridge the gap between capital and investment opportunity in a way that ensures mineral rights owners will realize top dollar for the assets they own," said Brynn Ferrari, Vice President of Marketing and Public Relations. "We've been accomplishing that in spades. This delights our clients and frustrates the competition. That's exactly where we want to be."
To learn more about Phoenix Capital Group's mineral interest acquisitions or investment opportunities, visit phxcapitalgroup.com.
SOURCE Phoenix Capital Group Holdings LLC
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