Phoenix Capital Group Acquires 1,500 Royalty Acres in Utah's Prolific Uinta Basin

DENVER--(BUSINESS WIRE)--Phoenix Capital Group, a leading oil and gas mineral rights company, has acquired 1,500 net royalty acres in Utah's highly productive Uinta Basin. The company has spent over $60MM to-date in the Uinta Basin. Since April 2023, the newly acquired 1,500 net royalty acres have generated approximately $6.3 million in royalties income for the seller. Phoenix Capital Group adjusted the final purchase price accordingly. The assets have an estimated lifetime revenue of $144 mill