On September 6, 2022, Sitio Royalties Corp. and Brigham Minerals Inc. announced the decision to merge in a $4.8 billion all-stock deal. According to Sitio and Brigham, the combined company would be the largest publicly traded mineral and royalty company in the US. According to the management teams, the strategy is to concentrate on industry consolidation spanning various operators and regions.
The total revenue and net profit of Sitio Royalties Corp increased significantly in the first quarter (March 2022) over that in the December 2021 quarter, according to GlobalData.
Similarly, the total revenue and net profit of Brigham Minerals Inc. increased significantly in the second quarter (June 2022) over that in the March 2022 quarter, according to GlobalData.
The combined oil-weighted, mineral and royalty interest footprint of Sitio and Brigham comprises properties in the Denver-Julesburg, Williston, Anadarko, and Appalachian basins in addition to the Permian Basin and Eagle Ford Shale. The deal “brings together two of the largest public companies in the oil and gas mineral and royalty industry with complementary high-quality assets in the Permian Basin and other oil-focused regions,” the companies said. The deal is expected to complete in the first quarter of 2023.
Notably, the number of deals made by Sitio Royalties Corp increased significantly in 2022 in comparison to that in the previous years, according to GlobalData.
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