Three Rivers IV LLC emerged earlier this month following an equity commitment of up to $500 million by Riverstone Holdings to focus on oil and gas acquisition opportunities in the Permian Basin.
New venture plans to operate in multiple North American basins.
Double Eagle Energy Holdings III LLC’s young co-CEOs have seen life-altering success in Oklahoma and Permian Basin deals. But it’s a renewable resource—relationships, that is—that powers the company.
EIV Capital said it is providing Woodland Midstream a second, “substantial capital commitment” following the successful sale of its Ark-La-Tex-focused position late last year.
The additional minerals investment comes less than a week after EnCap agreed to sell its stake in Phillips Energy Partners to Kimbell Royalty Partners.
Devon Energy had been actively shopping the Permian Basin assets, and others in the Rockies, the past several months.
Kimbell Royalty Partners agreed to acquire certain oil and gas royalty assets controlled by EnCap in a stock deal worth about $151.3 million.
Blackstone Energy Partners made an equity commitment of $500 million in Waterfield Midstream, a Permian Basin oil and gas water management platform.
Last year ended with the worst quarter for upstream equity issuances since 2010 as only two equity deals raised $67.5 million.
While energy bankruptcy filings slowed in 2018, the total amount of debt in oil and gas remains staggering, a recent Haynes and Boone report says.
