Upstream

As the energy industry’s leading provider of growth capital, EnCap has been a significant source of capital to the upstream sector of the energy industry since 1988. EnCap has backed more than 240 companies across 17 upstream funds, including early mezzanine and reserve acquisition funds and, later, a series of nine growth capital funds.

To date, EnCap has invested approximately $24 billion in more than 240 different upstream companies. More than 200 investments have been realized, creating strong returns for EnCap's institutional partners over multiple industry and hydrocarbon price cycles with limited losses. We believe the landscape for investment in the upstream oil and gas space remains compelling and we continue to allocate capital to the most economically attractive opportunities.

Central to EnCap's investment strategy is the firm's ability to identify and attract the industry's premier management teams. EnCap's principals, partners and investment professionals have spent their entire careers developing extensive contacts and relationships within the oil and gas industry and the industry-related financial community. In addition, the firm's strong reputation as an innovative, value-added source of growth equity capital to the independent sector of the oil and gas industry enhances its ability to attract the highest quality teams.

Upstream Portfolio

Active Funds

Since its formation in 1988, EnCap Investments has issued 17 upstream funds, including early mezzanine and reserve acquisition funds and, later, a series of nine growth capital funds.

December 2017	EnCap Energy Capital Fund XI	Growth Capital	$7,000,000,000
April 2015	EnCap Energy Capital Fund X	Growth Capital	$6,500,000,000
January 2013	EnCap Energy Capital Fund IX	Growth Capital	$5,000,000,000
January 2011	EnCap Energy Capital Fund VIII	Growth Capital	$3,500,000,000
December 2007	EnCap Energy Capital Fund VII	Growth Capital	$2,500,000,000