Desert Peak Minerals, which owns and manages mineral and royalty interests in the Permian Basin, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Desert Peak acquires, owns, and manages mineral and royalty interests in exclusively focused in the Permian Basin. As of June 30, 2021, the company owned mineral and royalty interests representing 75,602 net royalty acres when adjusted to a 1/8th royalty, approximately 99% of which were located in West Texas. The remaining 1% of its NRAs are located in southeastern New Mexico.
The Denver, CO-based company was founded in 2019 and booked $60 million in revenue for the 12 months ended June 30, 2021. It plans to list on the NYSE under the symbol DPM. Desert Peak Minerals filed confidentially on June 17, 2021. Barclays, Credit Suisse, UBS Investment Bank, Capital One Securities, Citi, Evercore ISI, and RBC Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.
