Select Realized Investments
Select Realized Investments
Description | Realized | |
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American Resource Development LLCInvestment Realized: 2017 American Resources Development is an Austin-based exploration and production company focused on the acquisition and development of oil and gas properties in the Permian Basin. | American Resource Development LLCAmerican Resource Development LLCInvestment Realized: 2017 American Resources Development is an Austin-based exploration and production company focused on the acquisition and development of oil and gas properties in the Permian Basin. An Austin-based exploration and production company focused on the acquisition and development of oil and gas properties in the Permian Basin. | 2017 |
Common ResourcesInvestment Realized: 2010, 2012 Common Resources is a Houston-based independent oil and gas company focused on creating value through the drillbit in multiple onshore U.S. basins. Common originally was formed by the former executive management team of Spinnaker Exploration Company (NYSE: SKE), which sold to Norsk Hydro in December 2005 for $2.6 billion. The management team has now been a part of multiple successful EnCap-backed entities.
| Common ResourcesCommon ResourcesInvestment Realized: 2010, 2012 Common Resources is a Houston-based independent oil and gas company focused on creating value through the drillbit in multiple onshore U.S. basins. Common originally was formed by the former executive management team of Spinnaker Exploration Company (NYSE: SKE), which sold to Norsk Hydro in December 2005 for $2.6 billion. The management team has now been a part of multiple successful EnCap-backed entities.
A Houston-based independent oil and gas company focused on creating value through the drillbit in multiple onshore U.S. basins. Common originally was formed by the former executive management team of Spinnaker Exploration Company. | 2010, 2012 |
Cordillera Energy PartnersInvestment Realized: 2003, 2008, 2012 Cordillera Energy Partners is a Denver-based exploration and production company focused on pursuing an acquire-and-exploit strategy. Cordillera actively pursues growth through producing property acquisitions with a focus toward long-life gas reserves principally in the Rocky Mountain and Mid-Continent regions. The founder and CEO of Cordillera was an experienced industry executive who had been instrumental in the consummation of over $1 billion in acquisition and divestiture transactions while at HS Resources and Apache Corporation (NYSE: APA).
| Cordillera Energy PartnersCordillera Energy PartnersInvestment Realized: 2003, 2008, 2012 Cordillera Energy Partners is a Denver-based exploration and production company focused on pursuing an acquire-and-exploit strategy. Cordillera actively pursues growth through producing property acquisitions with a focus toward long-life gas reserves principally in the Rocky Mountain and Mid-Continent regions. The founder and CEO of Cordillera was an experienced industry executive who had been instrumental in the consummation of over $1 billion in acquisition and divestiture transactions while at HS Resources and Apache Corporation (NYSE: APA).
A Denver-based exploration and production company focused on pursuing an acquire-and-exploit strategy. Cordillera actively pursues growth through producing property acquisitions with a focus toward long-life gas reserves principally in the Rocky Mountain and Mid-Continent regions. | 2003, 2008, 2012 |
Eagle Oil & GasInvestment Realized: 2012 Eagle Oil & Gas is managed by senior executives with an average of 30 years of exploration and production experience. Eagle is targeting drilling opportunities in West Texas, East Texas and Louisiana. | Eagle Oil & GasEagle Oil & GasInvestment Realized: 2012 Eagle Oil & Gas is managed by senior executives with an average of 30 years of exploration and production experience. Eagle is targeting drilling opportunities in West Texas, East Texas and Louisiana. A Dallas-based oil and gas company targeting drilling opportunities in West Texas, East Texas and Louisiana. | 2012 |
Enduring ResourcesInvestment Realized: 2008, 2010, 2014 Enduring Resources is a Denver-based independent oil and gas company focused on acquiring and developing oil and natural gas reserves in domestic onshore basins. Enduring is led by the former management team of Westport Resources, a publicly traded Rocky Mountain-based exploration and production company that was sold to Kerr-McGee (NYSE: KMG) in 2003.
| Enduring ResourcesEnduring ResourcesInvestment Realized: 2008, 2010, 2014 Enduring Resources is a Denver-based independent oil and gas company focused on acquiring and developing oil and natural gas reserves in domestic onshore basins. Enduring is led by the former management team of Westport Resources, a publicly traded Rocky Mountain-based exploration and production company that was sold to Kerr-McGee (NYSE: KMG) in 2003.
Enduring Resources is a Denver-based independent oil and gas company focused on acquiring and developing oil and natural gas reserves in domestic onshore basins. | 2008, 2010, 2014 |
Felix EnergyInvestment Realized: 2016 Felix Energy is a Denver-based exploration and production company focused on the pursuit of identified, liquids-rich unconventional assets within the most economic emerging domestic basins. Felix was formed in April 2013 by a multidisciplinary management team with an extensive track record of value creation and experience working with some of the largest and best operators in the industry. Over a three-year period, Felix assembled 80,000 net acres in the core of the STACK play located in Blaine, Canadian and Kingfisher counties. By pursuing an aggressive horizontal development program in the Meramec and Woodford formations, the company was able to successfully grow production, reserves and cash flow while demonstrating the resource potential of its acreage. In January 2016, Felix was sold to Devon Energy (NYSE: DVN) for total consideration of $1.9 billion. EnCap currently is partnered with the Felix management team in Felix Energy II, which was formed in September 2015. | Felix EnergyFelix EnergyInvestment Realized: 2016 Felix Energy is a Denver-based exploration and production company focused on the pursuit of identified, liquids-rich unconventional assets within the most economic emerging domestic basins. Felix was formed in April 2013 by a multidisciplinary management team with an extensive track record of value creation and experience working with some of the largest and best operators in the industry. Over a three-year period, Felix assembled 80,000 net acres in the core of the STACK play located in Blaine, Canadian and Kingfisher counties. By pursuing an aggressive horizontal development program in the Meramec and Woodford formations, the company was able to successfully grow production, reserves and cash flow while demonstrating the resource potential of its acreage. In January 2016, Felix was sold to Devon Energy (NYSE: DVN) for total consideration of $1.9 billion. EnCap currently is partnered with the Felix management team in Felix Energy II, which was formed in September 2015. A Denver-based exploration and production company formed in April 2013 by a multidisciplinary management team with an extensive track record of value creation and experience working with some of the largest and best operators in the industry. | 2016 |
Felix Energy IIInvestment Realized: 2020 Felix Energy II is a Denver-based exploration and production company focused on the pursuit of a diverse portfolio of opportunities in central domestic basins. Felix Energy II was formed in September 2015. | Felix Energy IIFelix Energy IIInvestment Realized: 2020 Felix Energy II is a Denver-based exploration and production company focused on the pursuit of a diverse portfolio of opportunities in central domestic basins. Felix Energy II was formed in September 2015. A Denver-based exploration and production company focused on the pursuit of a diverse portfolio of opportunities in central domestic basins. | 2020 |
Forge EnergyInvestment Realized: 2018 Forge Energy, LLC is a San Antonio-based exploration and production company formed in July 2011. The core management team consists of three former senior-level management members at Burlington Resources with a broad base of experience in engineering, operations and business development. Forge is focused on pursuing an acquire-and-exploit strategy primarily targeting the central United States, ranging from the onshore Gulf Coast to the Canadian border. | Forge EnergyForge EnergyInvestment Realized: 2018 Forge Energy, LLC is a San Antonio-based exploration and production company formed in July 2011. The core management team consists of three former senior-level management members at Burlington Resources with a broad base of experience in engineering, operations and business development. Forge is focused on pursuing an acquire-and-exploit strategy primarily targeting the central United States, ranging from the onshore Gulf Coast to the Canadian border. A San Antonio-based exploration and production company primarily targeting the central United States, ranging from the onshore Gulf Coast to the Canadian border. | 2018 |
Grenadier Energy / Stroud EnergyInvestment Realized: 2006, 2012 Headquartered in The Woodlands, Texas, Grenadier Energy Partners is an upstream oil and gas company led by Patrick J. Noyes and other former members of the Stroud Energy management team who have an extensive track record of value creation. Grenadier actively pursues attractive asset acquisitions and low-risk exploratory drilling opportunities in unconventional reservoirs throughout the U.S.
EnCap currently is partnered with the Grenadier management team in Grenadier Energy Partners II, formed in July 2012. | Grenadier Energy / Stroud EnergyGrenadier Energy / Stroud EnergyInvestment Realized: 2006, 2012 Headquartered in The Woodlands, Texas, Grenadier Energy Partners is an upstream oil and gas company led by Patrick J. Noyes and other former members of the Stroud Energy management team who have an extensive track record of value creation. Grenadier actively pursues attractive asset acquisitions and low-risk exploratory drilling opportunities in unconventional reservoirs throughout the U.S.
EnCap currently is partnered with the Grenadier management team in Grenadier Energy Partners II, formed in July 2012. Headquartered in The Woodlands, Texas, an upstream oil and gas company led by Patrick J. Noyes and other former members of the Stroud Energy management team who have an extensive track record of value creation. Grenadier actively pursues attractive asset acquisitions and low-risk exploratory drilling opportunities in unconventional reservoirs throughout the U.S. | 2006, 2012 |
Laramie EnergyInvestment Realized: 2007 Laramie Energy is a Denver-based, independent oil and gas company formed by former executives of Forest Oil Corporation (NYSE: FST) and Mesa-Hydrocarbons, Inc. Laramie is focused on acquiring and exploiting unconventional natural gas plays in the Rocky Mountains, primarily in the Piceance Basin of Colorado. From its inception in May 2004 to its exit in May 2007, Laramie acquired a total of 66,000 gross / 58,000 net acres in the Piceance Basin through small acquisitions and Federal Lease Sales. These acquisitions were primarily acreage acquisitions without PDP reserves. Laramie was able to create significant value on this acreage through a successful drilling effort that resulted in over 380 Bcfe of Total Proved reserves at the time of its sale. Over the three-year period, the Company successfully drilled over 200 wells in the Piceance Basin. The Company’s developmental success also added significant Probable upside resulting in 2.2 Tcfe of total net (2P) reserves at exit. In May 2007, Laramie sold to Plains Exploration & Production Company (NYSE: PXP) for approximately $1.0 billion. EnCap currently is partnered with the same management team through Laramie Energy II. | Laramie EnergyLaramie EnergyInvestment Realized: 2007 Laramie Energy is a Denver-based, independent oil and gas company formed by former executives of Forest Oil Corporation (NYSE: FST) and Mesa-Hydrocarbons, Inc. Laramie is focused on acquiring and exploiting unconventional natural gas plays in the Rocky Mountains, primarily in the Piceance Basin of Colorado. From its inception in May 2004 to its exit in May 2007, Laramie acquired a total of 66,000 gross / 58,000 net acres in the Piceance Basin through small acquisitions and Federal Lease Sales. These acquisitions were primarily acreage acquisitions without PDP reserves. Laramie was able to create significant value on this acreage through a successful drilling effort that resulted in over 380 Bcfe of Total Proved reserves at the time of its sale. Over the three-year period, the Company successfully drilled over 200 wells in the Piceance Basin. The Company’s developmental success also added significant Probable upside resulting in 2.2 Tcfe of total net (2P) reserves at exit. In May 2007, Laramie sold to Plains Exploration & Production Company (NYSE: PXP) for approximately $1.0 billion. EnCap currently is partnered with the same management team through Laramie Energy II. A Denver-based, independent oil and gas company formed by former executives of Forest Oil Corporation (NYSE: FST) and Mesa-Hydrocarbons, Inc. Laramie is focused on acquiring and exploiting unconventional natural gas plays in the Rocky Mountains, primarily in the Piceance Basin of Colorado. | 2007 |
Limestone ExplorationInvestment Realized: 2010 Limestone Exploration is a Midland, Texas-based independent oil and gas company focused on acquiring and developing acreage in the Spraberry and Wolfcamp (Wolfberry) trend. Limestone was formed by a multidisciplinary management team with extensive experience in the Permian Basin and strong connections in the Midland area. At the time of EnCap’s initial commitment to Limestone in April 2008, the company had identified and obtained an option on 7,500 contiguous net acres in Martin County, Texas, that were highly prospective for the Spraberry and Wolfcamp formations. The management team believed that the Wolfberry model of combining several discrete stratigraphic reservoirs in the Permian Basin and stimulating them with modern technology would result in economically viable wells. Limestone drilled a total of 19 successful wells, generating 28.2 MMBoe of proved reserves and ~1,000 boe/d of net production by September 2010. In October 2010, Limestone closed the sale of its assets to an undisclosed buyer. EnCap is currently partnered with the Limestone management team in Carrera Energy, which was formed in October 2010. | Limestone ExplorationLimestone ExplorationInvestment Realized: 2010 Limestone Exploration is a Midland, Texas-based independent oil and gas company focused on acquiring and developing acreage in the Spraberry and Wolfcamp (Wolfberry) trend. Limestone was formed by a multidisciplinary management team with extensive experience in the Permian Basin and strong connections in the Midland area. At the time of EnCap’s initial commitment to Limestone in April 2008, the company had identified and obtained an option on 7,500 contiguous net acres in Martin County, Texas, that were highly prospective for the Spraberry and Wolfcamp formations. The management team believed that the Wolfberry model of combining several discrete stratigraphic reservoirs in the Permian Basin and stimulating them with modern technology would result in economically viable wells. Limestone drilled a total of 19 successful wells, generating 28.2 MMBoe of proved reserves and ~1,000 boe/d of net production by September 2010. In October 2010, Limestone closed the sale of its assets to an undisclosed buyer. EnCap is currently partnered with the Limestone management team in Carrera Energy, which was formed in October 2010. A Midland, Texas-based independent oil and gas company focused on acquiring and developing acreage in the Spraberry and Wolfcamp (Wolfberry) trend. Limestone was formed by a multidisciplinary management team with extensive experience in the Permian Basin and strong connections in the Midland area. | 2010 |
Marquette ExplorationInvestment Realized: 2011 Marquette Exploration was an upstream oil and gas company focused on unconventional resource plays in several basins throughout North America. Marquette was formed by a seasoned management and technical team that formerly served with Burlington Resources and ConocoPhillips (NYSE: COP) and exhibited a proven track record of discovering and developing significant unconventional resources throughout North America. Subsequent to formation in September 2006, Marquette identified three underexploited resource plays located in East Ohio, North Louisiana and Michigan and built significant leasehold positions in each play. Over the next several years, Marquette successfully tested and delineated each play in order to establish the resource potential. Marquette ultimately sold its Michigan assets (125,000 acres) in Q2 2010 to an undisclosed buyer for $74 million and, in Q3 2011, Hess Corporation (NYSE: HES) purchased Marquette and other leases in Ohio’s Utica Shale play for $750 million. | Marquette ExplorationMarquette ExplorationInvestment Realized: 2011 Marquette Exploration was an upstream oil and gas company focused on unconventional resource plays in several basins throughout North America. Marquette was formed by a seasoned management and technical team that formerly served with Burlington Resources and ConocoPhillips (NYSE: COP) and exhibited a proven track record of discovering and developing significant unconventional resources throughout North America. Subsequent to formation in September 2006, Marquette identified three underexploited resource plays located in East Ohio, North Louisiana and Michigan and built significant leasehold positions in each play. Over the next several years, Marquette successfully tested and delineated each play in order to establish the resource potential. Marquette ultimately sold its Michigan assets (125,000 acres) in Q2 2010 to an undisclosed buyer for $74 million and, in Q3 2011, Hess Corporation (NYSE: HES) purchased Marquette and other leases in Ohio’s Utica Shale play for $750 million. An upstream oil and gas company focused on unconventional resource plays in several basins throughout North America. Marquette was formed by a seasoned management and technical team that formerly served with Burlington Resources and ConocoPhillips (NYSE: COP) and exhibited a proven track record of discovering and developing significant unconventional resources throughout North America. | 2011 |
Oasis PetroleumInvestment Realized: 2010 Oasis Petroleum (NYSE: OAS) is a Houston-based independent oil and gas company focused on the acquisition and development of unconventional oil and natural gas resources. Oasis was formed by former senior management members at Burlington Resources, which was acquired by ConocoPhillips (NYSE: COP) in March 2006. Since its formation in March 2007 through June 2010, Oasis aggregated more than 292,000 net acres in the Williston Basin through a series of acquisition and farm-in transactions. By pursuing an aggressive horizontal development program in the Bakken and Three Forks formations, the company was able to successfully grow production and reserves while demonstrating the resource potential of its acreage. In June 2010, Oasis successfully priced its IPO at $14 per share and is now listed on the NYSE under the symbol OAS. | Oasis PetroleumOasis PetroleumInvestment Realized: 2010 Oasis Petroleum (NYSE: OAS) is a Houston-based independent oil and gas company focused on the acquisition and development of unconventional oil and natural gas resources. Oasis was formed by former senior management members at Burlington Resources, which was acquired by ConocoPhillips (NYSE: COP) in March 2006. Since its formation in March 2007 through June 2010, Oasis aggregated more than 292,000 net acres in the Williston Basin through a series of acquisition and farm-in transactions. By pursuing an aggressive horizontal development program in the Bakken and Three Forks formations, the company was able to successfully grow production and reserves while demonstrating the resource potential of its acreage. In June 2010, Oasis successfully priced its IPO at $14 per share and is now listed on the NYSE under the symbol OAS. A Houston-based independent oil and gas company focused on the acquisition and development of unconventional oil and natural gas resources. Oasis was formed by former senior management members at Burlington Resources, which was acquired by ConocoPhillips (NYSE: COP) in March 2006. | 2010 |
OGX ResourcesInvestment Realized: 2008, 2011 OGX is a Midland, Texas-based oil and gas company focused on acquiring and exploiting oil and gas properties primarily in the Permian Basin of West Texas and Southeast New Mexico. Key management members have extensive experience as independent owners and operators of oil and gas properties in the region. Management's track record of value creation includes two successful EnCap sponsored entities. The team initially partnered with EnCap in 2006 and subsequently sold the majority of its assets to Legend Natural Gas III in March 2008. Subsequently, the team partnered with EnCap in May 2011 to form OGX II, and through the course of the investment, acquired and sold assets through four separate transactions:
EnCap currently is partnered with the OGX management team in OGX III, formed in January 2015. | OGX ResourcesOGX ResourcesInvestment Realized: 2008, 2011 OGX is a Midland, Texas-based oil and gas company focused on acquiring and exploiting oil and gas properties primarily in the Permian Basin of West Texas and Southeast New Mexico. Key management members have extensive experience as independent owners and operators of oil and gas properties in the region. Management's track record of value creation includes two successful EnCap sponsored entities. The team initially partnered with EnCap in 2006 and subsequently sold the majority of its assets to Legend Natural Gas III in March 2008. Subsequently, the team partnered with EnCap in May 2011 to form OGX II, and through the course of the investment, acquired and sold assets through four separate transactions:
EnCap currently is partnered with the OGX management team in OGX III, formed in January 2015. A Midland, Texas-based oil and gas company focused on acquiring and exploiting oil and gas properties primarily in the Permian Basin of West Texas and Southeast New Mexico. | 2008, 2011 |
Paloma PartnersInvestment Realized: 1999, 2008, 2012, 2015 Paloma Resources is a privately held, Houston-based oil and gas company focused on the acquisition and development of acreage in resource plays throughout the United States. Management’s track record of value creation includes four successful EnCap sponsored entities: San Juan Partners, Paloma Barnett, Paloma Partners II and Paloma III.
| Paloma PartnersPaloma PartnersInvestment Realized: 1999, 2008, 2012, 2015 Paloma Resources is a privately held, Houston-based oil and gas company focused on the acquisition and development of acreage in resource plays throughout the United States. Management’s track record of value creation includes four successful EnCap sponsored entities: San Juan Partners, Paloma Barnett, Paloma Partners II and Paloma III.
A Houston-based oil and gas company focused on the acquisition and development of acreage in highly economic resource plays in the U.S. The Paloma team has a history of value creation through multiple entities in multiple geographic areas. | 1999, 2008, 2012, 2015 |
PayRock EnergyInvestment Realized: 2016 PayRock Energy is an Oklahoma City-based exploration and production company focused on the pursuit of statistically proven, liquids-rich unconventional assets within the most economic basins. PayRock was formed in November 2012 by a seasoned management team with an extensive track record of value creation and experience working for top tier operators in the oil and gas industry. PayRock amassed 61,000 net acres as an early mover in the core of the STACK play, primarily in Oklahoma's Kingfisher and Canadian counties. By continuously refining its drilling and completion practices to drive down well costs and enhance well performance, management was able to unlock substantial value and deliver a sizeable and scalable opportunity with compelling, oil-weighted economics and tangible upside in the core of one of the most attractive resource plays in the United States. In August 2016, PayRock closed on its sale to Marathon Oil Corporation (NYSE: MRO) for an all-cash consideration of $887.5 million. | PayRock EnergyPayRock EnergyInvestment Realized: 2016 PayRock Energy is an Oklahoma City-based exploration and production company focused on the pursuit of statistically proven, liquids-rich unconventional assets within the most economic basins. PayRock was formed in November 2012 by a seasoned management team with an extensive track record of value creation and experience working for top tier operators in the oil and gas industry. PayRock amassed 61,000 net acres as an early mover in the core of the STACK play, primarily in Oklahoma's Kingfisher and Canadian counties. By continuously refining its drilling and completion practices to drive down well costs and enhance well performance, management was able to unlock substantial value and deliver a sizeable and scalable opportunity with compelling, oil-weighted economics and tangible upside in the core of one of the most attractive resource plays in the United States. In August 2016, PayRock closed on its sale to Marathon Oil Corporation (NYSE: MRO) for an all-cash consideration of $887.5 million. An Oklahoma City-based exploration and production company focused on the pursuit of statistically proven, liquids-rich unconventional assets within the most economic basins. PayRock was formed in November 2012 by a seasoned management team with an extensive track record of value creation and experience working for top tier operators in the oil and gas industry. | 2016 |
PetroHawk Energy CorporationInvestment Realized: 2011 Petrohawk Energy Corporation was a publicly traded E&P company based in Houston. The company was formed in May 2003 by Floyd Wilson, the former founder and CEO of 3TEC Energy, a successful EnCap Fund III investment. The company has aggressively pursued its acquire-and-exploit growth strategy and has evolved from a startup to a substantial mid-cap independent. In May 2004, Petrohawk acquired a controlling interest in Beta Oil & Gas (“Beta”), a small publicly traded oil and gas company based in Tulsa, with the intention of utilizing Beta as a platform to raise public equity for future growth. Subsequent to the transaction, Beta was renamed Petrohawk. In January 2005, Petrohawk completed a Reg-D offering to supplement bank financing in consummating the acquisition of Wynn Crosby Energy, Inc. Following this offering, EnCap sold enough of its common stock in Petrohawk to recoup its initial investment. In July 2005, Petrohawk finalized a merger with Mission Resources Corporation, a publicly traded E&P company with assets in the Permian Basin and Gulf Coast. The combined company had over $1 billion of oil and gas assets. Subsequent to this merger, EnCap began to strategically liquidate its remaining ownership in the company until the last of the securities were sold in February 2006. In July 2006, Petrohawk completed a merger with KCS Energy, creating a combined company with estimated proved reserves of approximately 1 Tcfe. In August 2011, Petrohawk was sold to BHP Billiton for a cash offer of $38.75 per share, representing a total equity value of ~$12.1 billion and a total enterprise value of ~$15.1 billion. EnCap has again backed PetroHawk CEO Wilson in a new venture, Halcón Reserves. | PetroHawk Energy CorporationPetroHawk Energy CorporationInvestment Realized: 2011 Petrohawk Energy Corporation was a publicly traded E&P company based in Houston. The company was formed in May 2003 by Floyd Wilson, the former founder and CEO of 3TEC Energy, a successful EnCap Fund III investment. The company has aggressively pursued its acquire-and-exploit growth strategy and has evolved from a startup to a substantial mid-cap independent. In May 2004, Petrohawk acquired a controlling interest in Beta Oil & Gas (“Beta”), a small publicly traded oil and gas company based in Tulsa, with the intention of utilizing Beta as a platform to raise public equity for future growth. Subsequent to the transaction, Beta was renamed Petrohawk. In January 2005, Petrohawk completed a Reg-D offering to supplement bank financing in consummating the acquisition of Wynn Crosby Energy, Inc. Following this offering, EnCap sold enough of its common stock in Petrohawk to recoup its initial investment. In July 2005, Petrohawk finalized a merger with Mission Resources Corporation, a publicly traded E&P company with assets in the Permian Basin and Gulf Coast. The combined company had over $1 billion of oil and gas assets. Subsequent to this merger, EnCap began to strategically liquidate its remaining ownership in the company until the last of the securities were sold in February 2006. In July 2006, Petrohawk completed a merger with KCS Energy, creating a combined company with estimated proved reserves of approximately 1 Tcfe. In August 2011, Petrohawk was sold to BHP Billiton for a cash offer of $38.75 per share, representing a total equity value of ~$12.1 billion and a total enterprise value of ~$15.1 billion. EnCap has again backed PetroHawk CEO Wilson in a new venture, Halcón Reserves. A publicly traded E&P company based in Houston. The company was formed in May 2003 by Floyd Wilson, the former founder and CEO of 3TEC Energy, a successful EnCap Fund III investment. | 2011 |
Piedra ResourcesInvestment Realized: 2011, 2014 Piedra is a privately held, Midland, Texas-based oil and gas company focused in the Permian Basin. Consistent with management's expertise and historical track record, Piedra has pursued the exploration and development of lower risk resource plays with scalability and upside. Management's track record of value creation includes two successful EnCap-sponsored entities. The team initially partnered with EnCap in 2007 and sold the majority of its assets to Berry Petroleum (NYSE:BRY) in 2011. Subsequently, the team partnered with EnCap in July 2011 to form Piedra II, and through the course of the investment, acquired and sold assets through two transactions:
EnCap currently is partnered with the Piedra management team in Piedra III, formed in 2014. | Piedra ResourcesPiedra ResourcesInvestment Realized: 2011, 2014 Piedra is a privately held, Midland, Texas-based oil and gas company focused in the Permian Basin. Consistent with management's expertise and historical track record, Piedra has pursued the exploration and development of lower risk resource plays with scalability and upside. Management's track record of value creation includes two successful EnCap-sponsored entities. The team initially partnered with EnCap in 2007 and sold the majority of its assets to Berry Petroleum (NYSE:BRY) in 2011. Subsequently, the team partnered with EnCap in July 2011 to form Piedra II, and through the course of the investment, acquired and sold assets through two transactions:
EnCap currently is partnered with the Piedra management team in Piedra III, formed in 2014. A privately held, Midland, Texas-based oil and gas company focused in the Permian Basin pursuing the exploration and development of lower risk resource plays with scalability and upside. | 2011, 2014 |
Plains All American Pipeline, L.P.Investment Realized: 2009 Plains All American is a publicly traded master limited partnership (NYSE: PAA) engaged in crude oil gathering, transportation, marketing and storage in the U.S. and Canada. EnCap’s storied investment in PAA stems from its extremely strong relationship with the senior PAA management team. Dating back to EnCap’s investment in Plains Resources in June 2001 (“PLX”, formerly the sole GP owner of PAA), EnCap developed an understanding of the exceptional, value-driven PAA management team. Over the following eight and a half years, PAA pursued an aggressive development strategy growing from a $75 million equity valuation in 2001 to a $2.8 billion equity valuation in 2009. In December 2009, Occidental Petroleum Corporation (NYSE: OXY) purchased EnCap’s general-partner interest in PAA. | Plains All American Pipeline, L.P. Plains All American Pipeline, L.P.Investment Realized: 2009 Plains All American is a publicly traded master limited partnership (NYSE: PAA) engaged in crude oil gathering, transportation, marketing and storage in the U.S. and Canada. EnCap’s storied investment in PAA stems from its extremely strong relationship with the senior PAA management team. Dating back to EnCap’s investment in Plains Resources in June 2001 (“PLX”, formerly the sole GP owner of PAA), EnCap developed an understanding of the exceptional, value-driven PAA management team. Over the following eight and a half years, PAA pursued an aggressive development strategy growing from a $75 million equity valuation in 2001 to a $2.8 billion equity valuation in 2009. In December 2009, Occidental Petroleum Corporation (NYSE: OXY) purchased EnCap’s general-partner interest in PAA. A publicly traded master limited partnership (NYSE: PAA) engaged in crude oil gathering, transportation, marketing and storage in the U.S. and Canada. | 2009 |
Plantation Petroleum CompanyInvestment Realized: 2003, 2005, 2007, 2011 Headquartered in Houston, Plantation Petroleum Company is an upstream oil and gas company focused on opportunities in the Permian Basin.
| Plantation Petroleum CompanyPlantation Petroleum CompanyInvestment Realized: 2003, 2005, 2007, 2011 Headquartered in Houston, Plantation Petroleum Company is an upstream oil and gas company focused on opportunities in the Permian Basin.
A Houston-based upstream oil and gas company focused on acquire-and-exploit opportunities in the Permian Basin. | 2003, 2005, 2007, 2011 |
Protege EnergyInvestment Realized: 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.
EnCap currently is partnered with Protégé management in Protégé III, which was formed in 2013. | Protege EnergyProtege EnergyInvestment Realized: 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.
EnCap currently is partnered with Protégé management in Protégé III, which was formed in 2013. A Tulsa-based independent oil and gas company focused on acquiring and developing assets in the domestic onshore basins of the United States. | 2008, 2012 |
Sierra Oil & GasInvestment Realized: 2019 Sierra Oil & Gas is a Mexico City and Houston-based independent oil and gas company focused on exploration, development and production opportunities in Mexico. The company was sold in March 2019 to Deutsche Erdoel AG, a German E&P company. | Sierra Oil & GasSierra Oil & GasInvestment Realized: 2019 Sierra Oil & Gas is a Mexico City and Houston-based independent oil and gas company focused on exploration, development and production opportunities in Mexico. The company was sold in March 2019 to Deutsche Erdoel AG, a German E&P company. A Mexico City and Houston-based independent oil and gas company focused on exploration, development and production opportunities in Mexico. | 2019 |
Silverback ExplorationInvestment Realized: 2016 A San Antonio-based independent oil and gas exploration company formed in 2013 and focused on pursuing and developing primarily unconventional resource play opportunities in the United States. Silverback developed a significant position in the heart of the Delaware Basin, including approximately 35,000 net acres, 3,500 barrels per day of crude oil production and approximately 600 horizontal drilling locations. These leasehold interests and related assets were sold to Centennial Resource Development Inc. and its affiliates (NASDAQ: CDEV) (NASDAQ: CDEVW) in December 2016 for $855 million. | Silverback ExplorationSilverback ExplorationInvestment Realized: 2016 A San Antonio-based independent oil and gas exploration company formed in 2013 and focused on pursuing and developing primarily unconventional resource play opportunities in the United States. Silverback developed a significant position in the heart of the Delaware Basin, including approximately 35,000 net acres, 3,500 barrels per day of crude oil production and approximately 600 horizontal drilling locations. These leasehold interests and related assets were sold to Centennial Resource Development Inc. and its affiliates (NASDAQ: CDEV) (NASDAQ: CDEVW) in December 2016 for $855 million. A San Antonio-based independent oil and gas exploration company formed in 2013 and focused on pursuing and developing primarily unconventional resource play opportunities in the United States. | 2016 |
Talon Oil & GasInvestment Realized: 2010 Talon Oil & Gas was a Dallas-based independent oil and gas company focused on creating value through the acquisition and exploitation of producing properties in the Barnett Shale, East Texas and the Texas Panhandle. Talon was formed by a team of seasoned E&P executives with over 180 years of aggregate experience in all facets of the upstream oil and gas business. Furthermore, the majority of the team has worked together for 19 years in key senior positions at Coda Energy, Belco Oil & Gas, Westport Resources, Kerr-McGee Corporation and Talon, where they have been involved in $27.5 billion of oil and gas transactions. After its formation in January 2007, Talon completed $551 million of producing property acquisitions yielding an aggregate 537 Bcfe of proved reserves and 83 MMcfe/d of daily production for an attractive $1.03/Mcfe and $6,607/Mcfe/d. In addition to creating value through privately negotiated acquisitions of quality assets for below-market prices, the team utilized its technical expertise to further enhance returns through strategic exploitation and operational improvements. As a result of these efforts the aggregate PDP, total proved and 3P reserves of the properties increased by 25%, 58% and 65%, respectively. In December 2010, Talon closed the sale of its assets for a combined $1 billion to EnerVest (Barnett), Devon (Texas Panhandle) and an undisclosed third party (East Texas). | Talon Oil & GasTalon Oil & GasInvestment Realized: 2010 Talon Oil & Gas was a Dallas-based independent oil and gas company focused on creating value through the acquisition and exploitation of producing properties in the Barnett Shale, East Texas and the Texas Panhandle. Talon was formed by a team of seasoned E&P executives with over 180 years of aggregate experience in all facets of the upstream oil and gas business. Furthermore, the majority of the team has worked together for 19 years in key senior positions at Coda Energy, Belco Oil & Gas, Westport Resources, Kerr-McGee Corporation and Talon, where they have been involved in $27.5 billion of oil and gas transactions. After its formation in January 2007, Talon completed $551 million of producing property acquisitions yielding an aggregate 537 Bcfe of proved reserves and 83 MMcfe/d of daily production for an attractive $1.03/Mcfe and $6,607/Mcfe/d. In addition to creating value through privately negotiated acquisitions of quality assets for below-market prices, the team utilized its technical expertise to further enhance returns through strategic exploitation and operational improvements. As a result of these efforts the aggregate PDP, total proved and 3P reserves of the properties increased by 25%, 58% and 65%, respectively. In December 2010, Talon closed the sale of its assets for a combined $1 billion to EnerVest (Barnett), Devon (Texas Panhandle) and an undisclosed third party (East Texas). A Dallas-based independent oil and gas company focused on creating value through the acquisition and exploitation of producing properties in the Barnett Shale, East Texas and the Texas Panhandle. | 2010 |
Tracker Resource Development IIInvestment Realized: 2010 Tracker Resource Development II was a Denver-based, independent oil and gas company focused on creating value through the acquisition and development of leasehold and producing properties. Tracker was led by a highly experienced team of professionals with extensive oil and gas related experience with both major and independent companies, with a historical track record of creating value in the Rocky Mountain region. Since formation in May 2006, Tracker acquired and developed a 150,000-net-acre position in the Bakken Shale in North Dakota. The company successfully established a significant reserve base across its position through drilling more than 40 operated wells utilizing enhanced horizontal drilling techniques. Through its development, Tracker partnered with Red Arrow Energy, another EnCap portfolio company, as well as a large third-party investor through an entity they jointly formed, TRZ Energy. In December 2010, TRZ sold its Bakken assets to Hess Corporation (NYSE: HES) for approximately $1.1 billion of cash consideration. EnCap currently is partnered with the same Tracker management team through Tracker Resource Development III. | Tracker Resource Development IITracker Resource Development IIInvestment Realized: 2010 Tracker Resource Development II was a Denver-based, independent oil and gas company focused on creating value through the acquisition and development of leasehold and producing properties. Tracker was led by a highly experienced team of professionals with extensive oil and gas related experience with both major and independent companies, with a historical track record of creating value in the Rocky Mountain region. Since formation in May 2006, Tracker acquired and developed a 150,000-net-acre position in the Bakken Shale in North Dakota. The company successfully established a significant reserve base across its position through drilling more than 40 operated wells utilizing enhanced horizontal drilling techniques. Through its development, Tracker partnered with Red Arrow Energy, another EnCap portfolio company, as well as a large third-party investor through an entity they jointly formed, TRZ Energy. In December 2010, TRZ sold its Bakken assets to Hess Corporation (NYSE: HES) for approximately $1.1 billion of cash consideration. EnCap currently is partnered with the same Tracker management team through Tracker Resource Development III. A Denver-based, independent oil and gas company focused on creating value through the acquisition and development of leasehold and producing properties. | 2010 |