Our Approach

EnCap’s value creation strategy is based on partnering with some of the best management teams in the energy industry. Repeat teams continue to be the major source of new commitments, a testament to the firm’s successful track record and dedication to building strong, long-term relationships.

Ultimately, across all three platforms, our investment decisions are driven by economics. We use hard data, intense technical analysis and proprietary historical information to guide us in pursuing the best risk-adjusted investment opportunities in the most advantageous geographic areas. 

We partner with experienced management teams with a track record of creating value in an effort to build full-scale businesses with compelling economics and ample growth opportunities. 

Risk management is central to our investment thesis. We mitigate risk through the rigorous assessment of every individual investment opportunity; project diversification; limited capital exposure prior to substantial de-risking efforts; board control over capital allocation and investment pace; limited use of leverage; the periodic use of joint venture partnerships; and the pursuit of opportunistic exits.

Investment Fundamentals

EnCap's core investment fundamentals have successfully guided the firm for more than 34 years.


We support seasoned management teams with proven track records of success. We look for strong technical and operational skills, a history of value creation, a well-defined business plan and a common understanding of risk.


We invest in management teams that understand the value of building strong relationships and put a premium on working with their stakeholders.


We take a conservative, disciplined approach to advancing capital, doing so in incremental stages as each business plan proves itself over time.

Early Stage

We believe early-stage companies make excellent investments when they are advised by a capital provider with deep experience in their sector and expertise in managing and building businesses.

Risk Management

We limit the use of leverage and apply a thoughtful investment philosophy that balances capital preservation with value creation.


As we have throughout our history, we continue to identify segments of the energy market that offer the most attractive opportunities, including opportunities created by the global transition to a lower-carbon energy system.