Viking Minerals, a mineral acquisition company headquartered in Oklahoma City, has announced the final close of its sixth investment fund at $40.58 million—more than twice the size of its prior fund. At the time of closing, the firm had already deployed approximately $13 million, or 26% of committed capital, into high-quality mineral assets, underscoring its ability to execute quickly even in a challenging market.
Founded in 2012, Viking Minerals has completed over $100 million in organic transactions across multiple U.S. basins, with a focus on the Permian Basin, Eagle Ford, and Midcontinent Shales. The company specializes in acquiring minerals and royalties, building a diversified portfolio through disciplined underwriting and targeted acquisitions.
The close of Fund VI comes as many industry peers face headwinds, but Viking has expanded its acquisitions team to more than triple its previous size. This growth allows the firm to evaluate thousands of opportunities and act decisively on those with the strongest fundamentals. Market conditions are increasingly favoring experienced operators with scale and sophisticated valuation capabilities—areas where Viking has established a competitive edge.
The firm’s track record includes more than $124 million in total returns on $66 million invested across its first four funds, delivering an average 19.5% internal rate of return, an 18% annual yield, and a 1.86x multiple on invested capital. With Fund VI now fully capitalized and a strong pipeline of opportunities identified, Viking is positioned to continue generating attractive returns while capitalizing on the scarcity of quality mineral and royalty assets.
KEY QUOTES:
“Fund VI marks an important milestone for Viking. While many are struggling to make quality investments, we are deploying capital efficiently into premier mineral assets. Our expanding team and strong pipeline allow us to move decisively, creating significant advantages for our investors.”
“Viking’s strong fundraising and accelerated deployment build on a track record that now spans more than $100 million in investments and four fully realized funds. With dry powder available and a quality pipeline already identified, we are well positioned to continue generating returns for our investors while capitalizing on the perceived scarcity of quality opportunities in minerals and royalties.”
Ransome Oliver, Co-President and CEO of Viking Minerals
