Protege Energy

 

Portfolio

Investment: 
2008, 2012

Protégé Energy is a Tulsa-based independent oil and gas company focused on acquiring and developing assets in the domestic onshore basins of the United States.

While partnered with EnCap, the Protégé team has successful realizations in both the Andadarko/Arkoma basins and Marcellus/Utica Shale plays.

  • Protégé I: EnCap and the Protégé management team formed Protégé in 2004. The company pursued an acquire-and-exploit strategy as well as a lease-and-drill strategy. Protégé I made strategic acquisitions in the Anadarko and Arkoma Basins, and, through strategic acquisitions and development drilling, Protégé I grew its production to nearly 4 MMcfed, proved reserves to 43 Bcfe and 3P reserves to 69 Bcfe by mid-2008. Notable reservoir targets included the Granite Wash in the Texas Panhandle and the Woodford Shale in Eastern Oklahoma. In 2008, Protégé I sold the majority of its assets in several transactions to Forest Oil, EV Energy Partners and Newfield.
  • Protégé II: Subsequent to the sale of Protégé I, EnCap again partnered with management to form Protege II in late 2008. Over the ensuing year, Protégé II formed a strategic partnership with a Columbus, Ohio-based producer, then pursued a lease-and-drill strategy for the liquids-rich Marcellus and Utica Shale plays in Southeast Ohio. Protégé II created a contiguous 20,000-acre lease position in one of the most abundant areas of the liquids-rich Marcellus, growing its 3P reserves to 1,300 Bcfe by mid-2012. Protégé II sold its Marcellus/Utica assets to Statoil at year-end 2012.

EnCap currently is partnered with Protégé management in Protégé III, which was formed in 2013.