US private equity firm EnCap Investments is considering options to sell two bundles of oil and gas assets in Texas, raising more than $6 billion, Bloomberg has reported.
US private equity firm EnCap Investments is considering options to sell two bundles of oil and gas assets in Texas, raising more than $6 billion, Bloomberg has reported.
The positions in the Delaware basin comprises Advance Energy Partners, Ameredev II, and the Midland basin, which covers assets from Black Swan Oil & Gas, Piedra Resources, and Petrolegacy Energy.
The assets would be sold by different advisers next year, sources said.
Encap managing director Jason DeLorenzo said: “Encap has no plans to combine or sell any of its portfolio companies at this time. Depending on the strength of the market, EnCap may be in a position to sell select portfolio companies in 2023.”
Oil and gas investment giant EnCap combined Advance Energy Partners and Ameredev II in December, to create one of the largest privately-owned oil producers in the Delaware basin, a part of the larger Permian basin.
