Andros Capital Closes $150 Million JV with Private Permian Basin Operator
Andros Capital agreed to fund approximately $150 million to participate in a development drilling program targeting the Spraberry and Wolfcamp formations on MPDC’s Permian Basin position in Midland County, Texas
Founded in 2020, Andros Capital Partners is a private investment firm primarily focused on middle-market transactions requiring between $25 million and $200 million of equity. (Source: Hart Energy)
Andros Capital Partners LLC closed a $150 million joint venture (JV) with Permian-focused Midland-Petro D.C. Partners LLC (MPDC) on Aug. 25, the Houston-based firm said in a company release.
MPDC is a private oil and gas company based in Midland, Texas, which has assembled a world-class position in the core of the Midland Basin, according to Andros Managing Partner Phillip A. Gayle Jr.
As part of the JV announced Aug. 25, Andros will fund approximately $150 million to participate in a development drilling program targeting the Spraberry and Wolfcamp formations in Midland County, Texas.