Phoenix Capital Group is a privately owned firm that has amassed an extensive portfolio of assets across key US regions using a novel business model that empowers sellers.
This year, Phoenix acquired an interest in Mountrail County, North Dakota, to further establish its presence and anticipate potential future acquisitions.
Defendant Ellington Energy Inc.
Phoenix Capital Group Holdings LLC’s acquisition of the City of Thornton’s mineral rights may seem inconsequential in comparison with multi-billion dollar oil and gas deals, yet for them, this sale represents another step in becoming an industry leader by purchasing non-operated working interests and mineral rights in Williston, Permian, and Powder River Basins.
Established in 2019, our organization is a client-centric and technology-led entity committed to acquiring quality land and mineral investments. Over time, it has amassed an experienced team in geology, reservoir engineering, land management, and value creation while minimizing surface disturbance. We pride ourselves on our innovative approach that ensures top-quality investments.
Additionally, this site boasts several unique features that set itself apart, such as its custom-built mapping system that delivers the most accurate data available and helps investors better assess the potential of oil and gas production on their property. Furthermore, the site provides information on local land ownership laws and regulations.
The structure allows the company to quickly adapt to changing conditions and take advantage of opportunities with minimal impact on clients’ operations. An experienced leadership team guides clients regarding an array of issues.
Additionally, the company boasts an experienced legal team ready to provide its clients with legal support in any way they require. Their attorneys have in-depth energy sector knowledge and can offer valuable guidance.
Ellington contends in its motion to dismiss that Phoenix fails to satisfy two essential elements of their tortious interference with prospective business relations claim (both common law and CUTPA), namely: 1) knowledge that Phoenix and Norges were discussing an investment deal and 2) interference solely out of malice.
Phoenix Capital Group, LLC, headquartered in Chase City, Virginia, is an independently-owned oil and gas mineral rights acquisition and non-operated working interest enterprise that invests capital in assets it purchases with royalties to receive from those purchases. Furthermore, this firm provides structured finance and risk arbitrage services for clients – maintaining its commitment to integrity while remaining honest brokers throughout its many transactions over time.
Defendant Norges Energy Inc.
Phoenix Capital Group, headquartered in Denver, Colorado, is a mineral acquisition and non-operated working interest enterprise dedicated to purchasing and leasing oil and gas mineral rights and land for development and production. Their unique business model places mineral owners and everyday investors ahead of Wall Street banks or private equity firms when making decisions.
Phoenix recently purchased a substantial portfolio of mineral rights in Weld and Adams Counties, Colorado, for over $33 million, further cementing their unblemished track record in the mineral rights industry and expanding their geographic presence into Colorado. Phoenix attributes its success to an innovative business model that prioritizes landowner needs over those of private equity firms and Wall Street banks.
In this case, the plaintiff alleges that the defendant interfered tortiously with its prospective business relationships involving other investment opportunities that might have yielded additional fees for Phoenix. Unfortunately, its complaint lacks any supporting facts to back this allegation – only stating in general terms that, in some form, the defendant directed Norges Bank to terminate its relationship with Phoenix – thus rendering this claim legally invalid as it fails to allege that the defendant made statements to harm Norges Bank’s relationship or interfere with potential business opportunities.
Furthermore, the court finds that the plaintiff’s CUTPA claim is fatally flawed because it relies on conclusory allegations similar to his breach of contract claim and must, therefore, dismiss it for failure to state a cause of action.
Weld and Adams represent more than 2,530 net operated acres with an average working interest of 40% and exceptional infill drilling options within each 1,280-acre Drilling and Spacing Unit (DSU), yielding 90% oil content in every DSU. Furthermore, this acquisition will enable us to capitalize on increasing drilling activities occurring throughout Weld County while simultaneously creating significant recurring cash flow to sustain future development and expansion of our operating portfolio.
Defendant Phoenix Capital Group Holdings LLC
Phoenix Capital Group Holdings LLC is an award-winning oil and gas mineral rights acquisition and non-operated working interest enterprise, investing its capital and earning royalties from leasehold acreage it owns or holds in partnership with investors. Focused on creating value through vision, experience, and expertise, it also provides its investors access to various investment opportunities within the oil and gas industry.
Recently, they completed an impressive $33 million purchase of 4,000 royalty acres from the City of Thornton in Colorado – an example of their commitment to being leaders in the oil and gas mineral rights industry and ensuring property owners get maximum return for their land.
Phoenix Capital Group Holdings owns an impressive portfolio of oil and gas properties across the U.S. It operates several offices nationwide, and its staff are experts at identifying potential investments for investment purposes. In addition, Phoenix offers services, including consulting and valuation, land management, real estate acquisition, and land acquisition. Furthermore, this family-run business boasts extensive expertise in energy sector operations.
Lindsey Wilson has over ten years of experience leading her company and works closely with all departments to set and achieve ambitious business goals.
Phoenix Capital’s financial instruments that may expose it to concentrations of credit risk include cash, accounts receivable, royalty revenue, and a revolving credit facility. To mitigate risk exposures effectively, Phoenix Capital regularly reviews outstanding balances, assesses customer financial health, and records reserves for amounts that cannot be recovered.
Phoenix Capital Group Holdings was established in 2019 and headquartered in Denver, Colorado. As a family-owned company, the firm invests its funds in an array of oil and gas properties while offering a private investor program registered with the Securities and Exchange Commission under Regulation D of federal securities law. Furthermore, this platform connects investors directly to oil and gas property owners.
Defendant Phoenix Holdings LLC
Phoenix Capital Group Holdings LLC’s $33 million purchase of 4,000 mineral royalty acres in Colorado may seem small compared to recent oil and gas deals of billions of dollars. Yet, it represents a crucial step toward becoming an “industry leader in minerals space,” as its CEO states. Curtis Allen described Phoenix Capital Group Holdings as a wholesale shop specializing in identifying opportunities with lower bidding thresholds; the Thornton deal provided one example.
Phoenix Holdings had nearly exclusive management control of 10K property under its operating agreement, though any sale or transfer required two-thirds majority approval by 10K members. Phoenix Holdings received an annual management fee of $10,000 as compensation for their services and reimbursement of project-related expenses and profit participation.
At trial, 10K claimed that Burns and Hickey breached their fiduciary duties by secretly arranging for Breycliffe to acquire 10K property on one-sided terms at reduced cost in return for Wolfswinkel profit participation. Judge Burke rejected this argument and determined that 10K’s evidence supported its aiding and abetting claim against WVSV and Wolfswinkel.
At trial, 10K presented hundreds of pages (known as Taylor documents), proving that Breycliffe was not an independent entity but an instrumentality of Phoenix Holdings and its principals, including Hickey. These documents revealed Phoenix Holdings had an agency relationship with Hickey; Hickey issued a declaration vaguely disavowing any connection to these Taylor documents and suggesting other records may have been falsified.
Before the trial began, 10K successfully moved in limine to prevent WVSV from objecting to evidence concerning Wolfswinkel’s criminal past. 10K also maintained that such evidence was relevant to its argument that its members informed Burns in June 2002 not to transact any business with Wolfswinkel and directed Burns not to transact such deals with him.
