Denver’s Desert Peak Minerals Inc. is apparently going public.
Back by three major private equity funds, the company filed paperwork to set up a public offering this year and be traded on the New York Stock Exchange.
Desert Peak Minerals is a company that does not carry out oil and gas exploration. Instead it capitalizes off royalties paid by producers in the Permian Basin in Texas where it owns mineral rights to an estimated 5,000 wells.
Shareholders are identified as Kimmeridge Energy Management Co. based in New York City and Denver along with private equity fund firms The Blackstone Group of New York City and Oaktree Capital Management of Los Angeles.
The company was formed only two years ago and it recently acquired mineral rights to nearly 19,000 acres through the purchase of Rock Ridge Royalty Company LLC. It added 24,500 acres in August through the acquisition of two limited partnership entities owned by Oaktree Capital Management.