Elk Range Royalties Closes Landmark DJ Basin Acquisition and Launches Elk Range Royalties III
Portfolio Pulse from
Elk Range Royalties has completed a significant $905 million mineral and royalty acquisition in the DJ Basin from Occidental affiliates, covering approximately 250,000 net royalty acres. The transaction includes assets being developed by Chevron and Civitas, enhancing production visibility and long-term value creation. This marks a strategic expansion for Elk Range, which has now deployed over $1.2 billion in capital since 2020.
March 21, 2025 | 4:30 pm
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POSITIVE IMPACT
Chevron is identified as a key operator in the newly acquired Elk Range Royalties DJ Basin assets, contributing to significant well development in 2024.
Chevron's active drilling and development in the DJ Basin could be viewed positively by investors, potentially supporting a slight stock price increase.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
Occidental has sold mineral and royalty assets in the DJ Basin to Elk Range Royalties for $905 million, representing a strategic portfolio optimization move.
The asset sale represents a strategic divestment for Occidental, likely to have a neutral impact on stock price as it aligns with portfolio management strategies.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70