Ameredev II has closed an equity commitment of USD400 million from EnCap Investments and members of Ameredev management.
Ameredev is an Austin-based exploration and production company focused on the acquisition and development of oil and gas resources in the US.
The company is led by a multi-disciplined management team with a track record of value creation through commercial and operational excellence – most recently demonstrated by its USD633 million sale of Core Southern Delaware Basin assets to Callon Petroleum Company.
Parker Reese, Ameredev chief executive officer, says: "The EnCap team's focus on relationships, balanced commercial and technical perspective, and track record of investment returns make them a great partner for Ameredev. We look forward to continuing the successful value-adding partnership that we have developed with them."
Jason DeLorenzo, managing partner of EnCap, says: “We congratulate Ameredev on the successful closing of the sale of our Delaware Basin assets and are excited to continue our partnership with Parker and the entire Ameredev team through the formation of Ameredev II."
