0001193125-23-003770.txt : 20230109 0001193125-23-003770.hdr.sgml : 20230109 20230106205930 ACCESSION NUMBER: 0001193125-23-003770 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20230109 DATE AS OF CHANGE: 20230106 GROUP MEMBERS: BCP VI/BEP HOLDINGS MANAGER L.L.C. GROUP MEMBERS: BCP VII/BEP II HOLDINGS MANAGER L.L.C. GROUP MEMBERS: BLACKSTONE EMA II L.L.C. GROUP MEMBERS: BLACKSTONE EMA L.L.C. GROUP MEMBERS: BLACKSTONE ENERGY MANAGEMENT ASSOCIATES II L.L.C. GROUP MEMBERS: BLACKSTONE ENERGY MANAGEMENT ASSOCIATES L.L.C. GROUP MEMBERS: BLACKSTONE GROUP MANAGEMENT L.L.C. GROUP MEMBERS: BLACKSTONE HOLDINGS III GP L.P. GROUP MEMBERS: BLACKSTONE HOLDINGS III GP MANAGEMENT L.L.C. GROUP MEMBERS: BLACKSTONE INC. GROUP MEMBERS: BLACKSTONE MANAGEMENT ASSOCIATES VI L.L.C. GROUP MEMBERS: BLACKSTONE MANAGEMENT ASSOCIATES VII L.L.C. GROUP MEMBERS: BMA VI L.L.C. GROUP MEMBERS: BMA VII L.L.C. GROUP MEMBERS: BX PRIMEXX TOPCO LLC GROUP MEMBERS: BX ROYAL AGGREGATOR LP GROUP MEMBERS: RRR AGGREGATOR LLC GROUP MEMBERS: STEPHEN A. SCHWARZMAN SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Sitio Royalties Corp. CENTRAL INDEX KEY: 0001949543 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 884140242 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-93856 FILM NUMBER: 23516340 BUSINESS ADDRESS: STREET 1: 1401 LAWRENCE STREET STREET 2: SUITE 1750 CITY: DENVER STATE: CO ZIP: 80202 BUSINESS PHONE: (720) 640-7620 MAIL ADDRESS: STREET 1: 1401 LAWRENCE STREET STREET 2: SUITE 1750 CITY: DENVER STATE: CO ZIP: 80202 FORMER COMPANY: FORMER CONFORMED NAME: Snapper Merger Sub I, Inc. DATE OF NAME CHANGE: 20221004 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Blackstone Holdings III L.P. CENTRAL INDEX KEY: 0001404073 IRS NUMBER: 260288853 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154 BUSINESS PHONE: (212) 583-5000 MAIL ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154 SC 13G 1 d434787dsc13g.htm SC 13G SC 13G

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Schedule 13G

Under the Securities Exchange Act of 1934

(Amendment No.     )*

 

 

Sitio Royalties Corp.

(Name of Issuer)

Class A Common Stock, $0.0001 Par Value

(Title of Class of Securities)

82983N108

(CUSIP Number)

December 29, 2022

(Date of Event Which Requires Filing of This Statement)

 

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

  ☐

Rule 13d-1(b)

 

  ☒

Rule 13d-1(c)

 

  ☐

Rule 13d-1(d)

 

*

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

CUSIP No. 82983N108    13G    Page 2 of 27

 

  (1)   

  Names of Reporting Person

 

  BX Royal Aggregator LP

  (2)  

  Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☒

 

  (3)  

  SEC use only

 

  (4)  

  Citizenship or place of organization

 

  Delaware

Number of

shares

  beneficially  

owned by

each

reporting

person

with:

 

      (5)    

Sole voting power

 

8,637,727

     (6)   

Shared voting power

 

0

     (7)   

Sole dispositive power

 

8,637,727

     (8)   

Shared dispositive power

 

0

  (9)  

  Aggregate amount beneficially owned by each reporting person

 

  8,637,727

  (10)  

  Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

  ☐

  (11)  

  Percent of class represented by amount in Row (11)

 

  9.7%

  (12)   

  Type of reporting person (see instructions)

 

  PN

CUSIP No. 82983N108    13G    Page 3 of 27

 

  (1)   

  Names of Reporting Person

 

  BCP VI/BEP Holdings Manager L.L.C.

  (2)  

  Check the appropriate box if a member of a group (see instructions)

  (a)  ☐        (b)  ☒

 

  (3)  

  SEC use only

 

  (4)  

  Citizenship or place of organization

 

  Delaware

Number of

shares

  beneficially  

owned by

each

reporting

person

with:

 

      (5)    

Sole voting power

 

8,637,727

     (6)   

Shared voting power

 

0

     (7)   

Sole dispositive power

 

8,637,727

     (8)   

Shared dispositive power

 

0

  (9)  

  Aggregate amount beneficially owned by each reporting person

 

  8,637,727

  (10)  

  Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

  ☐

  (11)  

  Percent of class represented by amount in Row (11)

 

  9.7%

  (12)   

  Type of reporting person (see instructions)

 

  OO

CUSIP No. 82983N108    13G    Page 4 of 27

 

  (1)   

  Names of Reporting Person

 

  Blackstone Energy Management Associates L.L.C.

  (2)  

  Check the appropriate box if a member of a group (see instructions)

  (a)  ☐        (b)  ☒

 

  (3)  

  SEC use only

 

  (4)  

  Citizenship or place of organization

 

  Delaware

Number of

shares

  beneficially  

owned by

each

reporting

person

with:

 

      (5)    

Sole voting power

 

0

     (6)   

Shared voting power

 

8,637,727

     (7)   

Sole dispositive power

 

0

     (8)   

Shared dispositive power

 

8,637,727

  (9)  

  Aggregate amount beneficially owned by each reporting person

 

  8,637,727

  (10)  

  Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

  ☐

  (11)  

  Percent of class represented by amount in Row (11)

 

  9.7%

  (12)   

  Type of reporting person (see instructions)

 

  OO

CUSIP No. 82983N108    13G    Page 5 of 27

 

  (1)   

  Names of Reporting Person

 

  Blackstone Management Associates VI L.L.C.

  (2)  

  Check the appropriate box if a member of a group (see instructions)

  (a)  ☐        (b)  ☒

 

  (3)  

  SEC use only

 

  (4)  

  Citizenship or place of organization

 

  Delaware

Number of

shares

  beneficially  

owned by

each

reporting

person

with:

 

      (5)    

Sole voting power

 

0

     (6)   

Shared voting power

 

8,637,727

     (7)   

Sole dispositive power

 

0

     (8)   

Shared dispositive power

 

8,637,727

  (9)  

  Aggregate amount beneficially owned by each reporting person

 

  8,637,727

  (10)  

  Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

  ☐

  (11)  

  Percent of class represented by amount in Row (11)

 

  9.7%

  (12)   

  Type of reporting person (see instructions)

 

  OO

CUSIP No. 82983N108    13G    Page 6 of 27

 

  (1)   

  Names of Reporting Person

 

  Blackstone EMA L.L.C.

  (2)  

  Check the appropriate box if a member of a group (see instructions)

  (a)  ☐        (b)  ☒

 

  (3)  

  SEC use only

 

  (4)  

  Citizenship or place of organization

 

  Delaware

Number of

shares

  beneficially  

owned by

each

reporting

person

with:

 

      (5)    

Sole voting power

 

0

     (6)   

Shared voting power

 

8,637,727

     (7)   

Sole dispositive power

 

0

     (8)   

Shared dispositive power

 

8,637,727

  (9)  

  Aggregate amount beneficially owned by each reporting person

 

  8,637,727

  (10)  

  Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

  ☐

  (11)  

  Percent of class represented by amount in Row (11)

 

  9.7%

  (12)   

  Type of reporting person (see instructions)

 

  OO

CUSIP No. 82983N108    13G    Page 7 of 27

 

  (1)   

  Names of Reporting Person

 

  BMA VI L.L.C.

  (2)  

  Check the appropriate box if a member of a group (see instructions)

  (a)  ☐        (b)  ☒

 

  (3)  

  SEC use only

 

  (4)  

  Citizenship or place of organization

 

  Delaware

Number of

shares

  beneficially  

owned by

each

reporting

person

with:

 

      (5)    

Sole voting power

 

0

     (6)   

Shared voting power

 

8,637,727

     (7)   

Sole dispositive power

 

0

     (8)   

Shared dispositive power

 

8,637,727

  (9)  

  Aggregate amount beneficially owned by each reporting person

 

  8,637,727

  (10)  

  Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

  ☐

  (11)  

  Percent of class represented by amount in Row (11)

 

  9.7%

  (12)   

  Type of reporting person (see instructions)

 

  OO

CUSIP No. 82983N108    13G    Page 8 of 27

 

  (1)   

  Names of Reporting Person

 

  RRR Aggregator LLC

  (2)  

  Check the appropriate box if a member of a group (see instructions)

  (a)  ☐        (b)  ☒

 

  (3)  

  SEC use only

 

  (4)  

  Citizenship or place of organization

 

  Delaware

Number of

shares

  beneficially  

owned by

each

reporting

person

with:

 

      (5)    

Sole voting power

 

11,400,218

     (6)   

Shared voting power

 

57,288(1)

     (7)   

Sole dispositive power

 

11,400,218

     (8)   

Shared dispositive power

 

57,288(1)

  (9)  

  Aggregate amount beneficially owned by each reporting person

 

  11,457,506(1)

  (10)  

  Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

  ☐

  (11)  

  Percent of class represented by amount in Row (11)

 

  12.4%

  (12)   

  Type of reporting person (see instructions)

 

  OO

 

(1)

Includes 57,288 Consideration Allocation Rights which may each be settled for shares of Class C Common Stock and Opco Units as described further in Item 4.

CUSIP No. 82983N108    13G    Page 9 of 27

 

  (1)   

  Names of Reporting Person

 

  BX Primexx Topco LLC

  (2)  

  Check the appropriate box if a member of a group (see instructions)

  (a)  ☐        (b)  ☒

 

  (3)  

  SEC use only

 

  (4)  

  Citizenship or place of organization

 

  Delaware

Number of

shares

  beneficially  

owned by

each

reporting

person

with:

 

      (5)    

Sole voting power

 

11,400,218

     (6)   

Shared voting power

 

57,288(1)

     (7)   

Sole dispositive power

 

11,400,218

     (8)   

Shared dispositive power

 

57,288(1)

  (9)  

  Aggregate amount beneficially owned by each reporting person

 

  11,457,506(1)

  (10)  

  Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

  ☐

  (11)  

  Percent of class represented by amount in Row (11)

 

  12.4%

  (12)   

  Type of reporting person (see instructions)

 

  OO

 

(1)

Includes 57,288 Consideration Allocation Rights which may each be settled for shares of Class C Common Stock and Opco Units as described further in Item 4.

CUSIP No. 82983N108    13G    Page 10 of 27

 

  (1)   

  Names of Reporting Person

 

  BCP VII/BEP II Holdings Manager L.L.C.

  (2)  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☒

 

  (3)  

SEC use only

 

  (4)  

Citizenship or place of organization

 

  Delaware

Number of

shares

  beneficially  

owned by

each

reporting

person

with:

 

      (5)    

Sole voting power

 

11,400,218

     (6)   

Shared voting power

 

57,288(1)

     (7)   

Sole dispositive power

 

11,400,218

     (8)   

Shared dispositive power

 

57,288(1)

  (9)  

Aggregate amount beneficially owned by each reporting person

 

   11,457,506(1)

  (10)  

Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

☐

  (11)  

Percent of class represented by amount in Row (11)

 

  12.4%

  (12)   

Type of reporting person (see instructions)

 

  OO

 

(1)

Includes 57,288 Consideration Allocation Rights which may each be settled for shares of Class C Common Stock and Opco Units as described further in Item 4.

CUSIP No. 82983N108    13G    Page 11 of 27

 

  (1)   

  Names of Reporting Person

 

  Blackstone Energy Management Associates II L.L.C.

  (2)  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☒

 

  (3)  

SEC use only

 

  (4)  

Citizenship or place of organization

 

  Delaware

Number of

shares

  beneficially  

owned by

each

reporting

person

with:

 

      (5)    

Sole voting power

 

11,400,218

     (6)   

Shared voting power

 

57,288(1)

     (7)   

Sole dispositive power

 

11,400,218

     (8)   

Shared dispositive power

 

57,288(1)

  (9)  

Aggregate amount beneficially owned by each reporting person

 

   11,457,506(1)

  (10)  

Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

☐

  (11)  

Percent of class represented by amount in Row (11)

 

  12.4%

  (12)   

Type of reporting person (see instructions)

 

  OO

 

(1)

Includes 57,288 Consideration Allocation Rights which may each be settled for shares of Class C Common Stock and Opco Units as described further in Item 4.

CUSIP No. 82983N108    13G    Page 12 of 27

 

  (1)   

  Names of Reporting Person

 

  Blackstone Management Associates VII L.L.C.

  (2)  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☒

 

  (3)  

SEC use only

 

  (4)  

Citizenship or place of organization

 

  Delaware

Number of

shares

  beneficially  

owned by

each

reporting

person

with:

 

      (5)    

Sole voting power

 

0

     (6)   

Shared voting power

 

11,457,506(1)

     (7)   

Sole dispositive power

 

0

     (8)   

Shared dispositive power

 

11,457,506(1)

  (9)  

Aggregate amount beneficially owned by each reporting person

 

  11,457,506(1)

  (10)  

Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

☐

  (11)  

Percent of class represented by amount in Row (11)

 

  12.4%

  (12)   

Type of reporting person (see instructions)

 

  OO

 

(1)

Includes 57,288 Consideration Allocation Rights which may each be settled for shares of Class C Common Stock and Opco Units as described further in Item 4.

CUSIP No. 82983N108    13G    Page 13 of 27

 

  (1)   

  Names of Reporting Person

 

  Blackstone EMA II L.L.C.

  (2)  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☒

 

  (3)  

SEC use only

 

  (4)  

Citizenship or place of organization

 

  Delaware

Number of

shares

  beneficially  

owned by

each

reporting

person

with:

 

      (5)    

Sole voting power

 

0

     (6)   

Shared voting power

 

11,457,506(1)

     (7)   

Sole dispositive power

 

0

     (8)   

Shared dispositive power

 

11,457,506(1)

  (9)  

Aggregate amount beneficially owned by each reporting person

 

  11,457,506(1)

  (10)  

Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

☐

  (11)  

Percent of class represented by amount in Row (11)

 

  12.4%

  (12)   

Type of reporting person (see instructions)

 

  OO

 

(1)

Includes 57,288 Consideration Allocation Rights which may each be settled for shares of Class C Common Stock and Opco Units as described further in Item 4.

CUSIP No. 82983N108    13G    Page 14 of 27

 

  (1)   

  Names of Reporting Person

 

  BMA VII L.L.C.

  (2)  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☒

 

  (3)  

SEC use only

 

  (4)  

Citizenship or place of organization

 

  Delaware

Number of

shares

  beneficially  

owned by

each

reporting

person

with:

 

      (5)    

Sole voting power

 

0

     (6)   

Shared voting power

 

11,457,506(1)

     (7)   

Sole dispositive power

 

0

     (8)   

Shared dispositive power

 

11,457,506(1)

  (9)  

Aggregate amount beneficially owned by each reporting person

 

  11,457,506(1)

  (10)  

Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

☐

  (11)  

Percent of class represented by amount in Row (11)

 

  12.4%

  (12)   

Type of reporting person (see instructions)

 

  OO

 

(1)

Includes 57,288 Consideration Allocation Rights which may each be settled for shares of Class C Common Stock and Opco Units as described further in Item 4.

CUSIP No. 82983N108    13G    Page 15 of 27

 

  (1)   

  Names of Reporting Person

 

  Blackstone Holdings III L.P.

  (2)  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☒

 

  (3)  

SEC use only

 

  (4)  

Citizenship or place of organization

 

  Quebec, Canada

Number of

shares

  beneficially  

owned by

each

reporting

person

with:

 

      (5)    

Sole voting power

 

20,037,945

     (6)   

Shared voting power

 

57,288(1)

     (7)   

Sole dispositive power

 

20,037,945

     (8)   

Shared dispositive power

 

57,288(1)

  (9)  

Aggregate amount beneficially owned by each reporting person

 

   20,095,233(1)

  (10)  

Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

☐

  (11)  

Percent of class represented by amount in Row (11)

 

  19.9%

  (12)   

Type of reporting person (see instructions)

 

  PN

 

(1)

Includes 57,288 Consideration Allocation Rights which may each be settled for shares of Class C Common Stock and Opco Units as described further in Item 4.

CUSIP No. 82983N108    13G    Page 16 of 27

 

  (1)   

  Names of Reporting Person

 

  Blackstone Holdings III GP L.P.

  (2)  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☒

 

  (3)  

SEC use only

 

  (4)  

Citizenship or place of organization

 

  Delaware

Number of

shares

  beneficially  

owned by

each

reporting

person

with:

 

      (5)    

Sole voting power

 

20,037,945

     (6)   

Shared voting power

 

57,288(1)

     (7)   

Sole dispositive power

 

20,037,945

     (8)   

Shared dispositive power

 

57,288(1)

  (9)  

Aggregate amount beneficially owned by each reporting person

 

   20,095,233(1)

  (10)  

Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

☐

  (11)  

Percent of class represented by amount in Row (11)

 

  19.9%

  (12)   

Type of reporting person (see instructions)

 

  PN

 

(1)

Includes 57,288 Consideration Allocation Rights which may each be settled for shares of Class C Common Stock and Opco Units as described further in Item 4.

CUSIP No. 82983N108    13G    Page 17 of 27

 

  (1)   

  Names of Reporting Person

 

  Blackstone Holdings III GP Management L.L.C.

  (2)  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☒

 

  (3)  

SEC use only

 

  (4)  

Citizenship or place of organization

 

  Delaware

Number of

shares

  beneficially  

owned by

each

reporting

person

with:

 

      (5)    

Sole voting power

 

20,037,945

     (6)   

Shared voting power

 

57,288(1)

     (7)   

Sole dispositive power

 

20,037,945

     (8)   

Shared dispositive power

 

57,288(1)

  (9)  

Aggregate amount beneficially owned by each reporting person

 

   20,095,233(1)

  (10)  

Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

☐

  (11)  

Percent of class represented by amount in Row (11)

 

  19.9%

  (12)   

Type of reporting person (see instructions)

 

  OO

 

(1)

Includes 57,288 Consideration Allocation Rights which may each be settled for shares of Class C Common Stock and Opco Units as described further in Item 4.

CUSIP No. 82983N108    13G    Page 18 of 27

 

  (1)   

  Names of Reporting Person

 

  Blackstone Inc.

  (2)  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☒

 

  (3)  

SEC use only

 

  (4)  

Citizenship or place of organization

 

  Delaware

Number of

shares

  beneficially  

owned by

each

reporting

person

with:

 

      (5)    

Sole voting power

 

20,037,945

     (6)   

Shared voting power

 

57,288(1)

     (7)   

Sole dispositive power

 

20,037,945

     (8)   

Shared dispositive power

 

57,288(1)

  (9)  

Aggregate amount beneficially owned by each reporting person

 

  20,095,233(1)

  (10)  

Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

☐

  (11)  

Percent of class represented by amount in Row (11)

 

  19.9%

  (12)   

Type of reporting person (see instructions)

 

  CO

 

(1)

Includes 57,288 Consideration Allocation Rights which may each be settled for shares of Class C Common Stock and Opco Units as described further in Item 4.

CUSIP No. 82983N108    13G    Page 19 of 27

 

  (1)   

  Names of Reporting Person

 

  Blackstone Group Management L.L.C.

  (2)  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☒

 

  (3)  

SEC use only

 

  (4)  

Citizenship or place of organization

 

  Delaware

Number of

shares

  beneficially  

owned by

each

reporting

person

with:

 

      (5)    

Sole voting power

 

20,037,945

     (6)   

Shared voting power

 

57,288(1)

     (7)   

Sole dispositive power

 

20,037,945

     (8)   

Shared dispositive power

 

57,288(1)

  (9)  

Aggregate amount beneficially owned by each reporting person

 

  20,095,233(1)

  (10)  

Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

☐

  (11)  

Percent of class represented by amount in Row (11)

 

  19.9%

  (12)   

Type of reporting person (see instructions)

 

  OO

 

(1)

Includes 57,288 Consideration Allocation Rights which may each be settled for shares of Class C Common Stock and Opco Units as described further in Item 4.

CUSIP No. 82983N108    13G    Page 20 of 27

 

  (1)   

  Names of Reporting Person

 

  Stephen A. Schwarzman

  (2)  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☒

 

  (3)  

SEC use only

 

  (4)  

Citizenship or place of organization

 

  United States of America

Number of

shares

  beneficially  

owned by

each

reporting

person

with:

 

      (5)    

Sole voting power

 

20,037,945

     (6)   

Shared voting power

 

57,288(1)

     (7)   

Sole dispositive power

 

20,037,945

     (8)   

Shared dispositive power

 

57,288(1)

  (9)  

Aggregate amount beneficially owned by each reporting person

 

  20,095,233(1)

  (10)  

Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

☐

  (11)  

Percent of class represented by amount in Row (11)

 

  19.9%

  (12)   

Type of reporting person (see instructions)

 

  IN

 

(1)

Includes 57,288 Consideration Allocation Rights which may each be settled for shares of Class C Common Stock and Opco Units as described further in Item 4.

CUSIP No. 82983N108    13G    Page 21 of 27

 

Item 1.

(a) Name of Issuer:

Sitio Royalties Corp. (the “Issuer”).

(b) Address of Issuer’s Principal Executive Offices:

1401 Lawrence Street, Suite 1750, Denver, Colorado 80202.

 

Item 2.

(a) Name of Person Filing

(b) Address of Principal Business Office

(c) Citizenship

Each of the following is hereinafter individually referred to as a “Reporting Person” and collectively as the “Reporting Persons.” This statement is filed on behalf of:

 

  (i)

BX Royal Aggregator LP

c/o Blackstone Inc.

345 Park Avenue

New York, NY 10154

Citizenship: State of Delaware

 

  (ii)

BCP VI/BEP Holdings Manager L.L.C.

c/o Blackstone Inc.

345 Park Avenue

New York, NY 10154

Citizenship: State of Delaware

 

  (iii)

Blackstone Energy Management Associates L.L.C.

c/o Blackstone Inc.

345 Park Avenue

New York, NY 10154

Citizenship: State of Delaware

 

  (iv)

Blackstone Management Associates VI L.L.C.

c/o Blackstone Inc.

345 Park Avenue

New York, NY 10154

Citizenship: State of Delaware

 

  (v)

Blackstone EMA L.L.C.

c/o Blackstone Inc.

345 Park Avenue

New York, NY 10154

Citizenship: State of Delaware

 

  (vi)

BMA VI L.L.C.

c/o Blackstone Inc.

345 Park Avenue

New York, NY 10154

Citizenship: State of Delaware

 

  (vii)

RRR Aggregator LLC

c/o Blackstone Inc.

345 Park Avenue

New York, NY 10154

Citizenship: State of Delaware

 

  (viii)

BX Primexx Topco LLC

c/o Blackstone Inc.

345 Park Avenue

New York, NY 10154

Citizenship: State of Delaware

CUSIP No. 82983N108    13G    Page 22 of 27

 

  (ix)

BCP VII/BEP II Holdings Manager L.L.C.

c/o Blackstone Inc.

345 Park Avenue

New York, NY 10154

Citizenship: State of Delaware

 

  (x)

Blackstone Energy Management Associates II L.L.C.

c/o Blackstone Inc.

345 Park Avenue

New York, NY 10154

Citizenship: State of Delaware

 

  (xi)

Blackstone Management Associates VII L.L.C.

c/o Blackstone Inc.

345 Park Avenue

New York, NY 10154

Citizenship: State of Delaware

 

  (xii)

Blackstone EMA II L.L.C.

c/o Blackstone Inc.

345 Park Avenue

New York, NY 10154

Citizenship: State of Delaware

 

  (xiii)

BMA VII L.L.C.

c/o Blackstone Inc.

345 Park Avenue

New York, NY 10154

Citizenship: State of Delaware

 

  (xiv)

Blackstone Holdings III L.P.

c/o Blackstone Inc.

345 Park Avenue

New York, NY 10154

Citizenship: Quebec, Canada

 

  (xv)

Blackstone Holdings III GP L.P.

c/o Blackstone Inc.

345 Park Avenue

New York, NY 10154

Citizenship: State of Delaware

 

  (xvi)

Blackstone Holdings III GP Management L.L.C.

c/o Blackstone Inc.

345 Park Avenue

New York, NY 10154

Citizenship: State of Delaware

 

  (xvii)

Blackstone Inc.

345 Park Avenue

New York, NY 10154

Citizenship: State of Delaware

 

  (xviii)

Blackstone Group Management L.L.C.

c/o Blackstone Inc.

345 Park Avenue

New York, NY 10154

Citizenship: State of Delaware

 

  (xix)

Stephen A. Schwarzman

c/o Blackstone Inc.

345 Park Avenue

New York, NY 10154

Citizenship: United States

CUSIP No. 82983N108    13G    Page 23 of 27

 

BX Royal Aggregator LP is the record holder of 8,637,727 common units representing limited partnership interests (“Opco Units”) in Sitio Royalties Operating Partnership, LP (“Opco”) and 8,637,727 shares of Class C common stock, par value $0.0001 per share, of the Issuer (“Class C Common Stock”). RRR Aggregator LLC is the record holder of 11,400,218 Opco Units, 11,400,218 shares of Class C Common Stock and 57,288 Consideration Allocation Rights (as defined herein), which may each be settled for shares of Class C Common Stock and Opco Units. BX Royal Aggregator LP and RRR Aggregator LLC are together referred to herein as the “Blackstone Funds.”

BCP VI/BEP Holdings Manager L.L.C. is the general partner of BX Royal Aggregator LP. Blackstone Energy Management Associates L.L.C. and Blackstone Management Associates VI L.L.C. are the managing members of BCP VI/BEP Holdings Manager L.L.C. Blackstone EMA L.L.C. is the sole member of Blackstone Energy Management Associates L.L.C. BMA VI L.L.C. is the sole member of Blackstone Management Associates VI L.L.C.

BX Primexx Topco LLC is the sole member of RRR Aggregator LLC. BCP VII/BEP II Holdings Manager L.L.C. is the managing member of BX Primexx Topco LLC. Blackstone Energy Management Associates II L.L.C. and Blackstone Management Associates VII L.L.C. are the managing members of BCP VII/BEP II Holdings Manager L.L.C. Blackstone EMA II L.L.C. is the sole member of Blackstone Energy Management Associates II L.L.C. BMA VII L.L.C. is the sole member of Blackstone Management Associates VII L.L.C.

Blackstone Holdings III L.P. is the managing member of each of BMA VI L.L.C., Blackstone EMA L.L.C., BMA VII L.L.C. and Blackstone EMA II L.L.C. Blackstone Holdings III GP L.P. is the general partner of Blackstone Holdings III L.P. Blackstone Holdings III GP Management L.L.C. is the general partner of Blackstone Holdings III GP L.P.

Blackstone Inc. (“Blackstone”) is the sole member of Blackstone Holdings III GP Management L.L.C. The sole holder of the Series II preferred stock of Blackstone is Blackstone Group Management L.L.C. Blackstone Group Management L.L.C. is wholly-owned by Blackstone’s senior managing directors and controlled by its founder, Stephen A. Schwarzman.

Each such Reporting Person may be deemed to beneficially own the Class A Common Stock (as defined herein) beneficially owned directly by the Blackstone Funds or indirectly controlled by it or them, but neither the filing of this Schedule 13G nor any of its contents shall be deemed to constitute an admission that any Reporting Person (other than the Blackstone Funds to the extent they directly hold Issuer securities reported herein) is the beneficial owner of the Class A Common Stock referred to herein for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Act”), or for any other purpose and each of the Reporting Persons expressly disclaims beneficial ownership of such shares of Class A Common Stock. The filing of this statement should not be construed to be an admission that any member of the Reporting Persons are members of a “group” for the purposes of Sections 13(d) and 13(g) of the Act.

(d) Title of Class of Securities:

Class A Common Stock, par value $0.0001 per share (“Class A Common Stock”).

(e) CUSIP Number:

82983N108.

 

Item 3.

If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a:

Not applicable.

 

Item 4.

Ownership.

(a) Amount beneficially owned:

Calculations of the percentage of shares of Class A Common Stock beneficially owned assumes 80,784,151 shares of Class A Common Stock outstanding, as provided by the Issuer, and assumes the conversion of the respective number of Opco Units and Consideration Allocation Rights beneficially owned by the Reporting Persons listed on the respective Reporting Person’s cover page. Each of the Reporting Persons may be deemed to be the beneficial owner of the shares of Class A Common Stock listed on such Reporting Person’s cover page.

BX Royal Aggregator LP is the record holder of 8,637,727 Opco Units and 8,637,727 shares of Class C Common Stock. RRR Aggregator LLC is the record holder of 11,400,218 Opco Units, 11,400,218 shares of Class C Common Stock and 57,288 Consideration Allocation Rights.

CUSIP No. 82983N108    13G    Page 24 of 27

 

Pursuant to the Second Amended and Restated Agreement of Limited Partnership of Opco (as amended), subject to certain restrictions contained therein, each holder of Opco Units (other than the Issuer) generally has the right to cause Opco to redeem all or a portion of its Opco Units (the “Redemption Right”) in exchange for shares of Class A Common Stock on a one-for-one basis or, at Opco’s election, an equivalent amount of cash. The Issuer may, at its option, effect a direct purchase of such Opco Units for shares of Class A Common Stock in lieu of such a redemption by Opco. Upon the future redemption or sale of Opco Units pursuant to the Redemption Right, a corresponding number of shares of Class C Common Stock and Opco Units will be cancelled. The Opco Units and the right to exercise the Redemption Right have no expiration date.

Certain officers of the Issuer have been granted certain restricted stock awards. Each restricted stock award will vest in equal installments on the first four anniversaries of the applicable date of grant, so long as the officer remains continuously employed by the Issuer through each vesting date. To the extent that a restricted stock award is forfeited, the shares of Class C Common Stock and Opco Units subject to such forfeited award will be returned to the Issuer and the Issuer will re-issue to certain shareholders, including RRR Aggregator LLC, on a one-for-one basis, shares of Class C Common Stock and Opco Units, with RRR Aggregator LLC entitled to receive its pro rata portion of any such shares re-issued (the “Consideration Allocation Rights”).

(b) Percent of class:

Each of the Reporting Persons may be deemed to be the beneficial owner of the percentage of shares of Class A Common Stock listed on such Reporting Person’s cover page.

(c) Number of shares as to which the Reporting Person has:

 

  (i)

Sole power to vote or to direct the vote:

See each cover page hereof.

 

  (ii)

Shared power to vote or to direct the vote:

See each cover page hereof.

 

  (iii)

Sole power to dispose or to direct the disposition of:

See each cover page hereof.

 

  (iv)

Shared power to dispose or to direct the disposition of:

See each cover page hereof.

 

Item 5.

Ownership of Five Percent or Less of a Class.

Not applicable.

 

Item 6.

Ownership of More than Five Percent on Behalf of Another Person.

Not applicable.

 

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.

Not applicable.

 

Item 8.

Identification and Classification of Members of the Group.

Not applicable.

 

Item 9.

Notice of Dissolution of Group.

Not applicable.

 

Item 10.

Certifications.

Each of the Reporting Persons hereby makes the following certification:

By signing below each of the undersigned certifies that, to the best of its knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

CUSIP No. 82983N108    13G    Page 25 of 27

 

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in the statement is true, complete and correct.

Date: January 6, 2023

 

BX Royal Aggregator LP
By: BCP VI/BEP Holdings Manager L.L.C., its general partner
By:   /s/ Tabea Hsi
Name:   Tabea Hsi
Title:   Authorized Signatory
BCP VI/BEP Holdings Manager L.L.C.
By:   /s/ Tabea Hsi
Name:   Tabea Hsi
Title:   Authorized Signatory
Blackstone Energy Management Associates L.L.C.
By: Blackstone EMA L.L.C., its sole member
By:   /s/ Tabea Hsi
Name:   Tabea Hsi
Title:   Authorized Signatory
Blackstone Management Associates VI L.L.C.
By: BMA VI L.L.C., its sole member
By:   /s/ Tabea Hsi
Name:   Tabea Hsi
Title:   Authorized Signatory
Blackstone EMA L.L.C.
By:   /s/ Tabea Hsi
Name:   Tabea Hsi
Title:   Authorized Signatory
BMA VI L.L.C.
By:   /s/ Tabea Hsi
Name:   Tabea Hsi
Title:   Authorized Signatory
RRR Aggregator LLC
By:   /s/ Gregory Perez
Name:   Gregory Perez
Title:   Vice President and Treasurer
BX Primexx Topco LLC
By:   /s/ Brijesh Kalaria
Name:   Brijesh Kalaria
Title:   Vice President

CUSIP No. 82983N108    13G    Page 26 of 27

 

BCP VII/BEP II Holdings Manager L.L.C.
By:   /s/ Gregory Perez
Name:   Gregory Perez
Title:   Authorized Signatory
Blackstone Energy Management Associates II L.L.C.
By: Blackstone EMA II L.L.C., its sole member
By:   /s/ Tabea Hsi
Name:   Tabea Hsi
Title:   Authorized Signatory
Blackstone EMA II L.L.C.
By:   /s/ Tabea Hsi
Name:   Tabea Hsi
Title:   Authorized Signatory
Blackstone Management Associates VII L.L.C.
By: BMA VII L.L.C., its sole member
By:   /s/ Tabea Hsi
Name:   Tabea Hsi
Title:   Authorized Signatory
BMA VII L.L.C.
By:   /s/ Tabea Hsi
Name:   Tabea Hsi
Title:   Authorized Signatory
Blackstone Holdings III L.P.
By: Blackstone Holdings III GP L.P., its general partner
By: Blackstone Holdings III GP Management L.L.C., its general partner
By:   /s/ Tabea Hsi
Name:   Tabea Hsi
Title:   Senior Managing Director
Blackstone Holdings III GP L.P.
By: Blackstone Holdings III GP Management L.L.C., its general partner
By:   /s/ Tabea Hsi
Name:   Tabea Hsi
Title:   Senior Managing Director
Blackstone Holdings III GP Management L.L.C.
By:   /s/ Tabea Hsi
Name:   Tabea Hsi
Title:   Senior Managing Director
Blackstone Inc.
By:   /s/ Tabea Hsi
Name:   Tabea Hsi
Title:   Senior Managing Director

CUSIP No. 82983N108    13G    Page 27 of 27

 

Blackstone Group Management L.L.C.
By:   /s/ Tabea Hsi
Name:   Tabea Hsi
Title:   Senior Managing Director
Stephen A. Schwarzman
/s/ Stephen A. Schwarzman

EXHIBIT LIST

 

Exhibit A    Joint Filing Agreement, dated January 6, 2023, among the Reporting Persons (filed herewith).
 EX-99.A 2 d434787dex99a.htm EX-99.A EX-99.A

Exhibit A

JOINT FILING AGREEMENT

Pursuant to and in accordance with the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder (the “Exchange Act”) the undersigned hereby agree to the joint filing on behalf of each of them of any filing required by such party under Section 13 of the Exchange Act or any rule or regulation thereunder (including any amendment, restatement, supplement, and/or exhibit thereto) with respect to securities of Sitio Royalties Corp., a Delaware corporation, and further agree to the filing, furnishing, and/or incorporation by reference of this Agreement as an exhibit thereto. Each of them is responsible for the timely filing of such filings and any amendments thereto, and for the completeness and accuracy of the information concerning such person contained therein; but none of them is responsible for the completeness or accuracy of the information concerning the other persons making the filing, unless such person knows or has reason to believe that such information is inaccurate. This Agreement shall remain in full force and effect until revoked by any party hereto in a signed writing provided to each other party hereto, and then only with respect to such revoking party. This Agreement may be executed in any number of counterparts all of which taken together shall constitute one and the same instrument.

Dated: January 6, 2023

 

BX Royal Aggregator LP
By: BCP VI/BEP Holdings Manager L.L.C., its general partner
By:  

/s/ Tabea Hsi

Name:   Tabea Hsi
Title:   Authorized Signatory
BCP VI/BEP Holdings Manager L.L.C.
By:  

/s/ Tabea Hsi

Name:   Tabea Hsi
Title:   Authorized Signatory
Blackstone Energy Management Associates L.L.C.
By: Blackstone EMA L.L.C., its sole member
By:  

/s/ Tabea Hsi

Name:   Tabea Hsi
Title:   Authorized Signatory
Blackstone Management Associates VI L.L.C.
By: BMA VI L.L.C., its sole member
By:  

/s/ Tabea Hsi

Name:   Tabea Hsi
Title:   Authorized Signatory
Blackstone EMA L.L.C.
By:  

/s/ Tabea Hsi

Name:   Tabea Hsi
Title:   Authorized Signatory
BMA VI L.L.C.
By:  

/s/ Tabea Hsi

Name:   Tabea Hsi
Title:   Authorized Signatory

RRR Aggregator LLC
By:  

/s/ Gregory Perez

Name:   Gregory Perez
Title:   Vice President and Treasurer
BX Primexx Topco LLC
By:  

/s/ Brijesh Kalaria

Name:   Brijesh Kalaria
Title:   Vice President
BCP VII/BEP II Holdings Manager L.L.C.
By:  

/s/ Gregory Perez

Name:   Gregory Perez
Title:   Authorized Signatory
Blackstone Energy Management Associates II L.L.C.
By: Blackstone EMA II L.L.C., its sole member
By:  

/s/ Tabea Hsi

Name:   Tabea Hsi
Title:   Authorized Signatory
Blackstone EMA II L.L.C.
By:  

/s/ Tabea Hsi

Name:   Tabea Hsi
Title:   Authorized Signatory
Blackstone Management Associates VII L.L.C.
By: BMA VII L.L.C., its sole member
By:  

/s/ Tabea Hsi

Name:   Tabea Hsi
Title:   Authorized Signatory
BMA VII L.L.C.
By:  

/s/ Tabea Hsi

Name:   Tabea Hsi
Title:   Authorized Signatory
Blackstone Holdings III L.P.
By: Blackstone Holdings III GP L.P., its general partner
By: Blackstone Holdings III GP Management L.L.C., its general partner
By:  

/s/ Tabea Hsi

Name:   Tabea Hsi
Title:   Senior Managing Director

Blackstone Holdings III GP L.P.
By: Blackstone Holdings III GP Management L.L.C., its general partner
By:  

/s/ Tabea Hsi

Name:   Tabea Hsi
Title:   Senior Managing Director
Blackstone Holdings III GP Management L.L.C.
By:  

/s/ Tabea Hsi

Name:   Tabea Hsi
Title:   Senior Managing Director
Blackstone Inc.
By:  

/s/ Tabea Hsi

Name:   Tabea Hsi
Title:   Senior Managing Director
Blackstone Group Management L.L.C.
By:  

/s/ Tabea Hsi

Name:   Tabea Hsi
Title:   Senior Managing Director
Stephen A. Schwarzman

/s/ Stephen A. Schwarzman