This acquisition is RPR's second Appalachian Basin transaction in 2020
Rising Phoenix Royalties (RPR) announces a 100% natural gas mineral acquisition in the Marcellus Shale, Washington County, PA from a private seller. This acquisition is RPR’s second Appalachian Basin transaction in 2020.
CNX Resources Corporation is the well site operator of the producing royalty interest RPR has acquired with its operations based in Appalachian Basin major shale formations. The corporation is one of the United States’ most expansive natural gas exploration, production, and development companies with access to 8.43 trillion cubic feet equivalents of natural gas reserves.
“At Rising Phoenix Royalties, we strive to provide the highest possible value to our clients. We recognize the uniqueness of each acquisition and work with landowners, as well as industry professionals to understand their specific targets,” says Janie Widman, Vice President of Rising Phoenix Royalties. “With all the changes we have endured this year, RPR has remained committed to providing valuable insight and opportunities to mineral owners.”
In May 2020, RPR established Rising Fund IV, the company’s fourth royalty fund. The offering was created for investors seeking alternative asset portfolio diversification. It follows a series of three other successful placements from RPR.
Source: Company Press Release