Private equity firm EnCap Investments is exploring a potential sale of US oil and gas producer Enduring Resources IV in a transaction that could value the business at more than $4bn including debt, according to a report by Reuters.
EnCap and its fellow investors are reportedly working with Jefferies Financial Group on a potential sale process expected to launch in early 2027. While the business is likely to attract interest from strategic buyers, its size could result in assets being sold separately to multiple acquirers. No transaction is guaranteed.
Denver-based Enduring Resources operates primarily in the San Juan Basin across Colorado and New Mexico. EnCap backed the fourth iteration of the business in 2017, with the company subsequently expanding through acquisitions, including acreage purchased from WPX Energy in 2018 and a merger with fellow private equity-backed operator DJR Energy in 2023.
Led by chief executive Barth Whitham, Enduring Resources reported more than 557,000 net acres and proven reserves of 229 million barrels of oil equivalent at the end of 2025, although the figures were not specifically attributed to Enduring Resources IV.
