Filing puts EagleRock’s Permian land at about 236,000 acres
Key Facts
In its 2026 offering prospectus, EagleRock disclosed that it owns or controls about 236,000 acres in the Permian Basin, as well as a potential interest in an allocation of up to about 70,000 acres linked to water infrastructure in the Midland Basin. These figures combine two different categories of land: what the company owns or controls, and what it may benefit from under an allocation linked to infrastructure. The company said in the prospectus: "We own or control approximately 236,000 acres of surface land in the aggregate... We also have an interest in up to approximately 70,000 acres pursuant to a land allocation." The disclosure puts these areas in the context of EagleRock’s land platform and water-related infrastructure in the basin. This description comes from the 2026 offering prospectus.
In reference data as of December 31, 2025, the company disclosed that it owned about 42,156 acres in the Midland Basin, along with 70,105 acres under the land allocation linked to water infrastructure. The area of owned land in this disclosure differs from the land included in the allocation: the former is direct ownership under the classification in the prospectus, while the latter is allocated acreage linked to infrastructure. The two figures provide a breakdown of the company’s presence in the Midland Basin within the broader portfolio described in its offering prospectus. They also allow the two land components cited by the company in its disclosures to be viewed separately. These figures remain a reference snapshot at the end of 2025.
On August 10, 2026, EagleRock announced its acquisition of Intrepid Ranch in Lea County, New Mexico, for $78.2 million. The company said the site includes about 50,000 acres of surface land, of which about 22,000 acres are fee-owned. The acquisition announced in August adds an example of the company expanding its portfolio through acquisitions, alongside the offering prospectus’s disclosures on owned or controlled land and allocations. The disclosure distinguishes the site’s total area from the acreage within it that is fee-owned. The company linked the acquisition announcement to a location in Lea County, New Mexico.
On financial performance, EagleRock reported adjusted revenue of $46.8 million in the second quarter of 2026, up 32.3% from the first quarter of the same year. Adjusted earnings before interest, taxes, depreciation and amortization totaled $36.2 million, up 31.7% from the previous quarter. The company reported both metrics on an adjusted basis in its second-quarter results release. Chief Executive Greg Bibb said that "the components of this platform are more valuable together than they are separately," adding that they provide "a broader base from which to continue growing organically and through acquisitions." Management’s comments link the expanded asset base with organic growth and acquisitions, without specifying a separate financial impact for either path in this statement.
In its quarterly disclosure, the company said the DE Flow system management agreement entitles it to a royalty equal to 90% of net proceeds, subject to an annual minimum of $40.0 million during the first five years of the agreement’s term. It said the relevant subsidiary is entitled to the royalty on net proceeds, with the annual minimum applying during that initial period. This financial arrangement adds another aspect of EagleRock’s business model alongside owning or controlling land and allocating it to water-related infrastructure. The royalty terms and minimum are set out in the company’s quarterly 10-Q report. The disclosure specified that the minimum applies for the first five years of the agreement.