Acquisition Brings Stone Ridge Energy’s Portfolio to Over 11 GW of Power
NEW YORK–(BUSINESS WIRE)–Stone Ridge Holdings Group (“Stone Ridge”), a financial services firm focused on alternative asset management, reinsurance, and bitcoin, today announced that its energy platform, Stone Ridge Energy (“SRE”), entered into a definitive agreement to acquire a major portfolio of Oklahoma energy assets from ConocoPhillips for approximately $1.3 billion.
This marks SRE’s second acquisition this year, after purchasing over $1 billion of energy assets in Colorado, bringing SRE’s investments in upstream energy assets to ~$9 billion since the platform’s launch in 2021. Matching increasing energy demand from bitcoin mining, AI data centers, and LNG-dependent countries with its more than 11 GW natural gas energy supply, SRE seeks to deliver significant, persistent, and uncorrelated returns. Overall, Stone Ridge has generated $9 billion of trading profits for investors since the beginning of 2023.
Stone Ridge-controlled affiliate NYDIG pioneered technology to facilitate profitable consumption of otherwise stranded energy throughout the life cycle of a natural gas well, giving SRE a significant competitive advantage. “Powered by a uniquely non-fiat focused energy platform, SRE’s investing and operational advantages are accelerating, transforming the energy landscape,” said Ross Stevens, Founder & CEO of Stone Ridge. “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.”
About Stone Ridge
Stone Ridge Holdings Group is a financial services firm focused on alternative asset management, reinsurance, and bitcoin, with industry-leading operating companies that support and enhance each other. Stone Ridge Asset Management invests broadly and profitably across its suite of uncorrelated, diversifying franchises. Longtail Re leads the casualty reinsurance industry in both absolute and risk-adjusted performance. NYDIG develops proprietary infrastructure to profitably interact with bitcoin-related power and financial services markets. We exclusively build products we want for ourselves, each with meaningful investment from our balance sheet.
To learn more, please visit www.stoneridgeam.com
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Marc Feuerstein
Marc.Feuerstein@stoneridgeam.com