Corporate Valuation, Oil & Gas

May 27, 2021

Mineral Aggregator Valuation Multiples Study Released

With Market Data as of May 26, 2021

Mercer Capital has its finger on the pulse of the minerals market.  An important trend has been the rise of mineral aggregators, which have largely supplanted the trusts as the primary method of publicly traded minerals ownership.

Due to a variety of corporate structures (including master limited partnerships and Up-Cs) and complex capital structures (including preferred equity and non-traded common units), mineral aggregator enterprise values pulled from databases are often missing meaningful components of value, leading to skewed valuation multiples.

Mercer Capital has thoughtfully analyzed the corporate and capital structures of the publicly traded mineral aggregators to derive meaningful indications of enterprise value.  We have also calculated valuation multiples based on a variety of metrics, including distributions and reserves, as well as earnings and production on both a historical and forward-looking basis.

cover_Mercer-Capital_E&P

Mineral Aggregator Valuation Multiples

Download Study

Continue Reading

“He’s Not Done Yet!” Oil Company Valuations Rise As Scale And Scarcity Drive Consolidation
“He’s Not Done Yet!” - Oil Company Valuations Rise As Scale And Scarcity Drive Consolidation
Oil E&P valuations are rising despite flat prices, driven by scarcity, inventory depth, and scale, highlighted by the Devon-Coterra merger and ongoing shale consolidation.
Eagle Ford: Steady as She Goes in a Year That Wasn’t
Eagle Ford: Steady as She Goes in a Year That Wasn’t
Eagle Ford maintained stable production despite declining rig counts, reflecting basin maturity and disciplined capital investment. Commodity price volatility, particularly driven by geopolitical events, played a key role in shaping recent performance and outlook.
Eagle Ford Shale M&A Update
Eagle Ford Shale M&A Update
Eagle Ford M&A activity remains limited, driven by basin maturity, capital discipline, and competition from higher-return regions like the Permian. Transaction activity is expected to stay selective, with incremental deals tied to portfolio optimization and divestitures.

Cart

Your cart is empty