EagleRock Land Enters Additional Acreage Dedication Of ~35K Midland Basin Acres With Double Eagle V; Also Completes Two Bolt-On Acquisitions In Midland Basin Totaling ~2K Acres For $15.4M

EagleRock funded the acquisitions through a combination of cash on hand and borrowings under its existing revolving credit facility. The Double Eagle V Dedication covers approximately 35,000 acres in Midland and Glasscock Counties and increases the total acreage dedicated to EagleRock by Double Eagle in the Midland Basin by approximately 50%, to approximately 105,000 acres. This agreement further strengthens our longstanding relationship with Double Eagle, one of the most active private operators in the Midland Basin and EagleRock’s largest shareholder. Importantly, the dedication underscores the strength of our capital-light business model, generating additional royalty revenue without requiring any capital investment by EagleRock. While it is early to provide specific financial guidance, we expect robust revenue contribution from this dedication beginning in 2027, with further meaningful growth in subsequent years consistent with Double Eagle’s drilling and completions cadence.

The two Midland Basin acquisitions were acquired at a valuation of less than 10x EBITDA, with one acquisition directly adjacent to our existing Shallow Valley footprint and the other directly adjacent to the newly announced Double Eagle V acreage dedication. These strategically located assets expand EagleRock’s water supply, storage, disposal capabilities, and include sand development optionality, creating opportunities to capture incremental operating synergies and unlock additional revenue across the entire Double Eagle dedicated footprint and the broader Midland Basin. Pro forma for the transactions, EagleRock’s Midland Basin footprint is approximately 44,000 acres plus approximately 105,000 dedicated acres. The acquisitions closed concurrent with signing.