EagleRock Land, which collects royalties and fees from oil and gas production from land it owns in the Permian Basin, filed on Thursday with the SEC to raise up to what we estimate could be $200 million in an initial public offering.
EagleRock Land owns or controls approximately 236,000 acres of surface land in the core of the Permian Basin in Texas and New Mexico, with an additional interest in up to 70,000 acres tied to its Midland Basin water infrastructure assets. Rather than producing oil and gas itself, the company earns fees and royalties by granting operators long-term access to its land for drilling, water management, and infrastructure siting, while its customers bear the operating and capital costs.
The Houston, TX-based company was founded in 2023 and booked $72 million in revenue for the 12 months ended December 31, 2025. It plans to list on the NYSE American under the symbol EROK. EagleRock Land filed confidentially on January 23, 2026. Goldman Sachs, Barclays, J.P. Morgan, Piper Sandler, Raymond James, KeyBanc Capital Markets, Pickering Energy Partners, Stephens Inc., and Texas Capital Securities are the joint bookrunners on the deal.
