Sitio Royalties
The business, the turning points, and the decisions behind them.
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Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
Sitio Royalties Corp. was a US oil and gas mineral and royalty interests company, created in 2022 through the merger of Desert Peak Minerals and Falcon Minerals Corporation. Trading on the NYSE as STR, it focused on large-scale consolidation of high-quality oil and gas mineral and royalty interests across diversified operators, with a strong Permian Basin footprint, and pursued a shareholder-returns-driven strategy of returning significant cash to shareholders.
02 / FAILURE REASONS
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03 / EVENT HISTORY
Events in the structured record
- Company formed
Desert Peak Minerals and Falcon Minerals complete their merger on June 7, 2022, creating Sitio Royalties Corp. (NYSE: STR), a consolidator of oil and gas mineral and royalty interests.
- Acquired by Viper Energy
Viper Energy, a Diamondback Energy subsidiary, announces on June 3, 2025 that it will acquire Sitio in an all-equity transaction valued at about $4.1 billion including $1.1 billion of assumed debt; the merger closes on August 19, 2025 and Sitio is delisted from the NYSE.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
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Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
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