Elk Range Royalties Company Profile

Background

Elk Range Royalties is a Dallas-based company specializing in the acquisition of mineral and royalty interests across multiple U.S. basins. Established in early 2020, the company has rapidly expanded its portfolio, now encompassing over 300,000 net royalty acres (NRAs) and interests in more than 23,500 producing wells. Elk Range focuses on acquiring high-quality royalty assets in core oil and gas regions, aiming to capitalize on both immediate cash flow and long-term development potential.

Key Strategic Focus

Elk Range's strategic focus centers on:

• Acquisition of Mineral and Royalty Interests: Targeting premier oil and gas basins to enhance portfolio value.

• Diversification Across U.S. Basins: Investing in multiple basins, including the Permian, Eagle Ford, DJ, and Appalachian, to mitigate risk and leverage regional advantages.

• Partnerships with Established Operators: Collaborating with leading operators like Chevron, Civitas, ExxonMobil, and ConocoPhillips to ensure efficient development and production.

• Capital Deployment: Since its inception, Elk Range has deployed over $1.2 billion in capital, demonstrating a strong commitment to growth and expansion.

Financials and Funding

Elk Range has secured substantial funding through:

• Equity Commitments: Partnering with NGP Energy Capital Management, a firm with over 30 years in the oil and gas industry, to support acquisitions and operations.

• Credit Facilities: Utilizing credit facilities from institutions like JPMorgan Bank and Texas Capital Bank to finance large-scale acquisitions.

Pipeline Development

Elk Range's pipeline includes:

• DJ Basin Acquisition: In March 2025, acquired approximately 250,000 NRAs from Occidental Petroleum for $905 million, enhancing presence in a premier oil and gas region.

• Permian and Eagle Ford Assets: In January 2025, acquired about 13,500 NRAs across Texas, with key operators including ExxonMobil and ConocoPhillips.

• Appalachian Basin Entry: In March 2024, made its first acquisition in the Appalachian Basin, adding approximately 8,000 NRAs across West Virginia, Pennsylvania, and Ohio.

Technological Platform and Innovation

Elk Range leverages:

• Data Analytics: Utilizing advanced data analytics to identify high-potential acquisition targets and optimize portfolio management.

• Geospatial Mapping: Employing geospatial mapping technologies to assess geological formations and inform acquisition decisions.

Leadership Team

The leadership team comprises:

• Charlie Shufeldt: CEO, with a background in energy investment and management, previously co-founder and Managing Director of IOG Capital, LP.

• Clinton Koerth: Vice President of Land and Business Development, responsible for strategic land acquisitions and partnerships.

• Jeff Stewart: Vice President of Engineering, overseeing technical evaluations and development strategies.

• Ashleigh Bell: Director of Finance & Accounting, managing financial operations and reporting.

Market Insights and Competitor Profile

The mineral and royalty acquisition market is characterized by:

• High Competition: Numerous entities are competing for prime assets in prolific basins.

• Capital Intensity: Significant capital is required for large-scale acquisitions and portfolio expansion.

• Operator Relationships: Strong partnerships with established operators are crucial for efficient development and production.

Key competitors include:

• Viper Energy Partners: Focuses on acquiring mineral and royalty interests in the Permian Basin, maintaining a portfolio of over 16,000 NRAs.

• Diversified Energy Company: Engages in acquisition and development of oil and gas assets, with a significant presence in the Appalachian Basin.

• Mentor Capital Inc.: Acquires non-operated working interests and mineral and royalty interests in various U.S. basins.

Strategic Collaborations and Partnerships

Elk Range has formed partnerships including:

• NGP Energy Capital Management: Provides equity commitments and strategic guidance, leveraging over 30 years of industry experience.

• Leading Operators: Collaborations with companies like Chevron, Civitas, ExxonMobil, and ConocoPhillips ensure efficient development and production of acquired assets.

Operational Insights

Elk Range differentiates itself through:

• Diversified Portfolio: Investing across multiple basins to mitigate risk and capitalize on regional advantages.

• Strategic Acquisitions: Targeting assets with a mix of current production, near-term activity, and long-term growth potential.

• Strong Partnerships: Building relationships with established operators to ensure efficient development and production.

Strategic Opportunities and Future Directions

Elk Range aims to:

• Expand Portfolio: Continue acquiring high-quality royalty assets in core basins.

• Enhance Cash Flow: Focus on assets with immediate cash flow and long-term development potential.

• Leverage Data Analytics: Utilize advanced technologies to identify acquisition targets and optimize portfolio management.

Contact Information

• Website: www.elkrange.com

• Social Media: LinkedIn