Rising Phoenix Royalties has closed its divestment of royalty interest in a Denver-Julesburg (D-J) Basin asset in Weld County, Colorado, to an undisclosed buyer, the firm announced July 22.
The purchase price was not included in Rising’s announcement.
The asset was acquired after Rising identified five DUCs that had been idle for over 18 months, Rising said.
PDC Energy originally owned the asset before the company was acquired by Chevron in 2023. Chevron now manages and operates the asset.
“Once a frac crew was confirmed on location, the firm moved quickly to negotiate and close on the asset,” Rising said.
The transaction was executed through Rising Phoenix’s RP Royalties platform, which focuses on basin-specific execution and repositioning underdeveloped mineral assets with near-term catalysts.
“This was a classic Rising Phoenix deal,” said Jace Graham, CEO and founder. “We saw DUCs, verified field activity, and moved fast to secure the acreage. Part of the position was allocated to our Maroon Bells Fund, and we immediately monetized the balance by reselling to a group of institutional buyers. That’s our model: move with conviction, maximize value and stay flexible on how we deploy and return capital.”
The transactions builds on Rising’s A&D activity in the past two years.
The company in July 2024 closed its first non-operated drilling deal for working interests in proved developed producing property in the D-J Basin.
In May, Rising Phoenix Capital acquired mineral interests in Ector and Midland counties, Texas, which were held by ConocoPhillips. The deal was made through the Maroon Bells Fund, marking the firm’s fourth Midland Basin acquisition in 2025.
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