Rising Phoenix Capital has acquired mineral interests in the Midland Basin, operated by ConocoPhillips, reinforcing its presence in one of the most productive energy regions in the US.
The acquisition, made through the Maroon Bells Fund, includes producing wells and drilling locations, promising sustained cash flow and development potential.
The Midland Basin mineral acquisition through the Maroon Bells Fund represents Rising Phoenix Capital’s fourth investment in the area in 2025, showcasing the firm’s commitment to direct sourcing and building institutional-grade portfolios.
Rising Phoenix Capital is specialised in direct relationships with stakeholders for asset consolidation, the company said.
Rising Phoenix Capital CEO and founder Jace Graham said: “Our underwriting is built around predictability—not hype. We target high-quality operators, proven geology, and mineral assets that deliver dependable monthly income. This acquisition furthers our commitment to that discipline and strengthens our presence in the heart of the Midland.”
ConocoPhillips, is also reportedly exploring the sale of its oil and gas holdings in Oklahoma, estimated to exceed $1bn.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThese assets were part of the significant $22.5bn Marathon Oil acquisition in November of the previous year.
Investment bank Moelis & Co has been appointed to oversee the sale proceedings, although the potential deal is still in preliminary discussions.
Additionally, Shell Offshore and Shell Pipeline Company, subsidiaries of Shell, have entered into an agreement with ConocoPhillips for a 15.96% working interest in the Ursa platform, pipeline, and associated fields in the Gulf of Mexico.
The $735m (£581.55m) deal will elevate Shell’s working interest, subject to the decisions of other partners.
ConocoPhillips will also divest a 1% interest in the Europa prospect and a 3.5% overriding royalty interest in Ursa, both of which were acquired through the Marathon Oil merger.
