Jackson Walker represented Newton Financial Corporation, LP and Concord Oil Company, LP in their acquisition by Elk Range Royalties LP. Announced on January 29, 2025, the transaction involved the sale of 100% equity of both entities, which collectively hold about 13,500 net royalty acres across the Permian and Eagle Ford basins.

The transaction provides for near-term cash flow growth through 28 drilled but uncompleted (DUCs) wells and 76 permits. With a portfolio exceeding 58,000 net royalty acres and an interest in over 13,500 producing wells, Elk Range is set to enhance its portfolio alongside key operators such as Apache, ConocoPhillips, Continental, Diamondback, ExxonMobil.

Newton and Concord were represented by a Jackson Walker team led by Peter E. Hosey and Brandon Durrett and including Danny Nappier, Nathan Smithson, Richard Garza, Graeme Hawkins, and Daniel Maldonado. TenOaks Energy Advisors served as marketing advisor to Newton and Concord.

For more information about the sale, view Elk Range’s press release and articles by Hart Energy and Offshore Technology (subscription may be required).

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