Three Peaks Resources

What Three Peaks Resources does

Three Peaks Resources LLC is a privately held, Grapevine, Texas-based oil and gas company formed in June 2017 by the same management team that previously operated Trail Ridge Energy Partners and Trail Ridge Energy Partners II (the latter's assets were sold to Lario Oil & Gas in March 2017). The company acquires non-operated working interests in producing wells and undeveloped acreage concentrated in the core of the Williston Basin (Bakken and Three Forks formations in North Dakota) and the Midland Basin (Wolfcamp D and Mississippian Lime in Scurry County, Texas). As of the latest disclosed metrics, Three Peaks had evaluated over $60 billion in Williston Basin assets between June 2017 and August 2018 and had acquired or was acquiring over $100 million of those assets, alongside 78,500 gross/70,000 net acres in Scurry County plus 4,500 net acres across Midland, Martin, Glasscock, Howard, and Reagan counties in Texas.

The company's core technical capabilities are conventional upstream geoscience and reservoir engineering: 3-D seismic acquisition, subsurface modeling, geological and reservoir modeling calibrated to actual reservoir performance, comprehensive core analyses, and iterative completion optimization that has produced wells with expected 500+ MBOE EURs and single-well IRRs above 40% on Wolfcamp D targets. Scurry County acreage is described as having over 350 net identified 7,500-foot lateral Wolfcamp D locations plus additional 3-D-seismic-identified Wolfcampian/Strawn/Mississippian/Ellenburger prospects and over 3 MMBOE of recoverable resource potential in a conventional Canyon Reef prospect. Three wells (two operated) are producing on the Scurry County assets.

Three Peaks' business model is to fund its proportional share of newly drilled and completed wells operated by leading basin operators and to consolidate non-operated interests through multiple acquisitions, adding rate, cash flow, and proved-up reserves. Revenue is generated as a proportional share of oil and gas production revenue based on working-interest ownership, with no public pricing disclosure. The go-to-market is relationship-driven B2B: direct outreach by CEO Ronald D. Wade and VP Land Matt Miller to a small set of leading operators in the basin. Capital is sourced from management and co-investors (June 2017 seed) and from Waveland Energy Partners (August 2018 institutional PE anchor). The company's primary segment is oil and gas operators and landowners in the Williston and Midland Basins, and it explicitly avoids the G&A burden of operating assets directly by leveraging its operator partners' R&D and operational expertise.

Name

Three Peaks Resources

Legal name

Three Peaks Resources LLC

Website

https://threepeaksresources.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Three Peaks Resources LLC is a privately held Grapevine, Texas-based oil and gas company that acquires non-operated working interests in producing wells and undeveloped acreage in the Williston Basin (Bakken and Three Forks) and Midland Basin (Wolfcamp D, Mississippian Lime), earning proportional production revenue from leading operators.

Ownership category

akta.pro rank

Product category

Upstream Oil and Gas (Non-Operated Working Interests)

NAICS

Oil and Gas Extraction (2111)

SIC

Crude Petroleum & Natural Gas (1311), Oil & Gas Field Exploration Services (1382)

akta.pro primary industry

Completion Tools & Subsurface Equipment (Packers, Liners, Valves, Sand Control) (EUALABAD)

Keywords

• Non-operated working interests
• Williston Basin acquisitions
• Bakken Three Forks
• Midland Basin operations
• Upstream oil and gas

Headquarters

HQ city

Grapevine

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Others

Revenue model

1. Oil and Gas Production Revenue: Three Peaks Resources generates revenue through the acquisition of non-operated working interests in oil and gas wells in the Williston Basin (Bakken and Three Forks formations). The company earns a proportional share of oil and gas production revenue based on its working interest ownership in producing wells. Revenue is driven by production volumes and commodity prices.
2. Non-Operated Interest Acquisitions: The company consolidates non-operated interests through multiple acquisitions, adding rate, cash flow, and proved-up reserves. Capital is allocated to pay for the company's share of newly drilled and completed wells by leading operators, generating future production revenue streams.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Three Peaks Resources LLC is a privately held oil and gas company that acquires non-operated working interests in producing wells and undeveloped acreage in the Williston Basin (Bakken and Three Forks formations) and the Midland Basin (Wolfcamp D and Mississippian Lime). The company consolidates non-operated interests through multiple acquisitions to add production rate, cash flow, and proved-up reserves, partnering with leading operators and funding its share of newly drilled and completed wells.

Product overview

Three Peaks Resources LLC is a privately held oil and gas company offering acquisition of non-operated interests in oil and gas wells. The company operates two main asset areas: (1) Williston Basin Non-Operated Interests focused on Bakken and Three Forks formations in North Dakota, and (2) Midland Basin assets including the Scurry County project targeting Wolfcamp D and Mississippian Lime with 70,000 net acres, and additional acreage in Midland, Martin, Glasscock, Howard, and Reagan counties totaling 4,500 net acres. The company employs 3D seismic analysis and geological reservoir modeling for asset evaluation.

Differentiator

Problem solved

Functional benefit

Products and services

• Williston Basin Non-Operated Working Interests Acquisition of non-operated working interests in wells drilled and completed in the core of the Bakken and Three Forks formations in the Williston Basin, consolidating interests through multiple acquisitions to add rate, cash flow, and proved-up reserves. Capital is also allocated to fund the company's share of newly drilled and completed wells by leading operators.
• Midland Basin Scurry County Assets 70,000 contiguous net acres in Scurry County, Texas targeting the Wolfcamp D and Mississippian Lime formations, with 3 producing wells (2 operated) and over 350 identified 7,500-foot lateral Wolfcamp D drilling locations, supported by 3-D seismic and calibrated geological/reservoir modeling.
• Midland Basin Producing Properties and Undeveloped Acreage Recently acquired producing properties and undeveloped acreage in the heart of the Midland Basin, encompassing 4,500 net acres in Midland, Martin, Glasscock, Howard, and Reagan counties, Texas.

Quantifiable outcome

• Expected wells with over 500 MBOE EURs and single-well IRRs greater than 40% on Wolfcamp D targets
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators6 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Sitio Royalties Corp. Sitio Royalties (formed via the merger of Brigham Minerals and Sitio Royalties) is a large U.S. mineral and royalty company with significant Permian and Bakken exposure. It shares Three Peaks' model of non-operated interests acquired through operator relationships.
• Viper Energy Partners: Viper Energy is a publicly traded non-operated mineral and royalty interest company focused on the Permian Basin. It is the closest direct peer to Three Peaks Resources given the shared non-operated acquisition model, focus on U.S. shale, and capital-light deployment through operator partnerships.
• Kimbell Royalty Partners: Kimbell Royalty Partners owns mineral and royalty interests across major U.S. basins. The non-operated, scalable acquisition model and basin-diversified strategy make it a direct comparable to Three Peaks' non-op approach.
• Black Stone Minerals: Black Stone Minerals is one of the largest U.S. mineral and royalty owners, with exposure across multiple basins including the Bakken and Permian. It is comparable to Three Peaks as a non-operated, asset-acquiring interest holder relying on third-party operators.
• Dorchester Minerals LP: Dorchester Minerals is a publicly traded partnership that owns royalty and working interests operated by third parties. It is comparable to Three Peaks as a passive non-operator with diversified oil and gas exposure.

Emerging players

• Texas Mineral Resources: Texas Mineral Resources is a small-cap mineral/royalty owner with selected Texas-focused assets. While smaller and more diversified, it is an emerging peer relevant to Three Peaks' Permian/Basin positioning.
• Slate Royalty Corp. Slate Royalty is a smaller, emerging non-operated royalty and mineral interest company in the U.S. with a similar acquisition-led strategy. It is an emerging peer in the same non-op investment category as Three Peaks.

Others

• Kayne Anderson Capital Advisors (Energy Funds): Kayne Anderson Energy Funds provided the original private equity commitment to Trail Ridge Energy Partners, the predecessor to Three Peaks. It is an ecosystem capital partner rather than a direct competitor, but relevant to understanding the company's funding lineage.

Broad incumbents

• Continental Resources: Continental Resources is a leading operator in the Williston Basin and the primary Bakken/Three Forks driller. As one of the leading operators whose non-op interests Three Peaks targets, it is a key counterparty and a broad incumbent benchmark.
• Chord Energy (formerly Whiting Petroleum/Oasis Petroleum merger): Chord Energy is a major Williston Basin operator with whom Three Peaks has historically partnered. As a large established operator, it is a relevant peer/operator counterparty and comparable in basin focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Three Peaks Resources