Desert Peak Minerals and Falcon Minerals Complete Merger, Create Sitio Royalties
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Desert Peak Minerals and Falcon Minerals Corporation has completed their merger, creating Sitio Royalties Corp., a company focused on large-scale consolidation of high-quality oil and gas mineral and royalty interests across diversified operators.
With a proven track record of completing large, accretive acquisitions in the Permian Basin, Sitio is poised to become a top consolidator in the space. Guided by a disciplined financial philosophy and strong balance sheet, Sitio will focus on maximizing value for all stakeholders and returning significant cash to shareholders.
“Sitio is guided by its commitments to best-in-class leadership and governance standards, capital discipline and a thoughtful approach to value-maximizing M&A. Sitio’s distinguished profile as a leading consolidator in the minerals and royalties space will only continue to strengthen over time with the execution of our proven strategy, focusing on large-scale accretive acquisitions across diversified operators,” said Chris Conoscenti, CEO of Sitio.
“In line with Kimmeridge’s operating philosophy, Sitio has already adopted a best-in-class governance model that is structured to drive long-term shareholder returns and strong alignment with all its stakeholders. When leadership and directors are incentivized to drive outperformance and to optimize shareholder returns, as they are at Sitio, everyone wins. We believe this is the backbone of any successful public company, and Sitio is leading the way in this space,” said Noam Lockshin, chairman of Sitio’s board of directors.
Sitio will be managed by the legacy Desert Peak management team, led by current chief executive officer, Christopher Conoscenti. Noam Lockshin, a partner at Kimmeridge, Sitio’s largest equity holder, will serve as chairman of the board of directors. The board comprises seven members with strong independence, diversity and deep expertise across energy, finance and governance: Noam Lockshin, Morris R. Clark, Christopher L. Conoscenti, Alice E. Gould, Allen W. Li, Claire R. Harvey and Steven R. Jones.
About Sitio Royalties Corp.
Sitio is shareholder returns-driven company focused on large-scale consolidation of high-quality oil & gas mineral and royalty interests across premium basins, with a diversified set of top-tier operators. With a clear objective of generating cash flow from operations that can be returned to shareholders and reinvested, Sitio has accumulated over 140,000 net royalty acres through the consummation of over 180 acquisitions to date.
To stop by Sitio’s website, CLICK HERE
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