Oil land acquirer EagleRock Land files for an estimated $200 million IPO
May 4, 2026 News
Oil land acquirer EagleRock Land sets terms for $320 million IPO
EagleRock Land, which collects royalties and fees from energy production on land owned in the Permian Basin, announced terms for its IPO on Monday.
The Houston, TX-based company plans to raise $320 million by offering 17.3 million shares at a price range of $17 to $20.
IPO Overview
EagleRock Land, which collects royalties and fees from oil and gas production from land it owns in the Permian Basin, filed on Thursday with the SEC to raise up to what we estimate could be $200 million in an initial public offering.
EagleRock Land owns or controls approximately 236,000 acres of surface land in the core of the Permian Basin in Texas and New Mexico, with an additional interest in up to 70,000 acres tied to its Midland Basin water infrastructure assets. Rather than producing oil and gas itself, the company earns fees and royalties by granting operators long-term access to its land for drilling, water management, and infrastructure siting, while its customers bear the operating and capital costs.
The Houston, TX-based company was founded in 2023 and booked $72 million in revenue for the 12 months ended December 31, 2025. It plans to list on the NYSE American under the symbol EROK. EagleRock Land filed confidentially on January 23, 2026. Goldman Sachs, Barclays, J.P. Morgan, Piper Sandler, Raymond James, KeyBanc Capital Markets, Pickering Energy Partners, Stephens Inc., and Texas Capital Securities are the joint bookrunners on the deal.
About the Company
Access to land, resources and infrastructure is fundamental for critical industries like energy and technology to thrive. We are a land management company that owns or controls approximately 236,000 acres in the heart of the Delaware and Midland sub-basins within the prolific Permian Basin. In addition, we have an interest in up to approximately 70,000 acres pursuant to an acreage dedication related to our Midland Basin water infrastructure assets （the “DE Acreage Dedication”）。 Our acreage is vital to the efficient development of oil and natural gas resources in the Permian Basin and is strategically located to support the growing surface, resource, infrastructure and related commercial development needs of the power and other emerging industries in the Permian Basin. Our assets are situated in the most active oil and natural gas development and production areas in Texas and New Mexico. The Permian Basin is regarded as the premier region for oil and gas development due to its prolific remaining resource, low break-even costs and robust network of service and infrastructure companies that support oil and gas development. The depth and quality of the remaining resource has attracted large, public and well-capitalized producers who have largely consolidated the core of the Midland and Delaware sub-basins.