Stone Ridge Energy Acquires ConocoPhillips' Oklahoma Assets in $1.3 Billion Deal

Stone Ridge Holdings Group, a firm deeply entrenched in alternative asset management, announced today that its energy platform, Stone Ridge Energy (SRE), has completed a definitive agreement to acquire a major portfolio of Oklahoma energy assets from industry giant ConocoPhillips. The deal, valued at approximately $1.3 billion, marks a strategic expansion of SRE's upstream energy footprint.

This acquisition is SRE’s second major transaction this year, following the purchase of over $1 billion in energy assets in Colorado. The two deals combined have propelled SRE’s total investments in upstream energy assets to approximately $9 billion since the platform's inception in 2021. The rapid and aggressive expansion underscores Stone Ridge's commitment to building a robust and modern energy infrastructure tailored to the evolving demands of the global market.

The newly acquired Oklahoma assets will be integrated into SRE’s existing portfolio, which now boasts a combined natural gas energy supply of more than 11 gigawatts (GW). This massive energy capacity is strategically aligned to address the soaring energy consumption of new-age industries, particularly bitcoin mining, AI data centers, and the burgeoning liquefied natural gas (LNG) export market. By matching its substantial natural gas supply with these high-growth sectors, SRE aims to deliver what it calls "significant, persistent, and uncorrelated returns" for its investors.

A key competitive advantage for Stone Ridge is its technological edge, pioneered by its affiliate company, NYDIG. This technology facilitates the profitable consumption of what would otherwise be considered "stranded energy" throughout the lifecycle of a natural gas well. This innovative approach not only increases efficiency but also provides a unique operational benefit that distinguishes SRE from traditional energy firms. By monetizing energy that might have otherwise been flared or left unused, the platform is able to optimize its returns and contribute to a more efficient energy ecosystem.

Ross Stevens, Founder & CEO of Stone Ridge, highlighted the significance of the acquisition in a statement. “Powered by a uniquely non-fiat focused energy platform, SRE’s investing and operational advantages are accelerating, transforming the energy landscape,” said Stevens. “This acquisition marks a key milestone in our commitment to safeguard sound money while utilizing innovative solutions to efficiently help meet soaring global energy demand.”