trending Market Intelligence /marketintelligence/en/news-insights/trending/qGIzre0RIKcbThqmB1r9oQ2 content esgSubNav
In This List

EnCap makes $300M equity commitment to new Permian Basin-focused company

Video

S&P Capital IQ Pro | Powering Your Edge

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Enterprises are missing out on 24B by not optimizing cloud spending not going multicloud


EnCap makes $300M equity commitment to new Permian Basin-focused company

EnCap Investments LP committed $300 million in equity to a new Permian Basin-focused mineral and royalty company, Pegasus Resources LLC.

Pegasus also partnered with Tilden Capital LLC, an oil and gas investment company that, like Pegasus, is based in Fort Worth, Texas, in an effort to boost opportunities to acquire mineral and royalty properties.

"Our plan is to leverage our extensive network of energy industry relationships, coupled with EnCap's financial strength and expertise, to assemble an attractive portfolio of high-return properties during an advantageous point in the price cycle," said George Young Jr., CEO of Pegasus.

Kelly Hart & Hallman LLP's Fort Worth office served as Pegasus' legal adviser, while Thompson & Knight LLP served as EnCap's counsel. EnCap has raised 20 institutional oil and gas investment funds amounting to about $34 billion.