DoublePoint Energy LLC recently had its borrowing base upsized, providing the private oil and gas company with “significant capital” to continue to pursue high-quality opportunities in the Permian Basin.

According to an April 6 release from the Fort Worth, Texas-based company, DoublePoint’s syndicated reserve-based lending (RBL) facility has been increased by 45%. The company also has more than $750 million of undrawn existing equity commitments.

DoublePoint Energy formed in June 2018 through the combination of Double Eagle Energy Holdings III LLC and FourPoint Energy LLC’s Permian subsidiary. Under the leadership of co-CEOs Cody Campbell and John Sellers, DoublePoint currently holds more than 95,000 net acres in the core of the Midland Basin.

Already have an account? Log In

Thanks for reading Hart Energy.

Sign Up now to get unmatched coverage of the oil and gas industry’s entire landscape.

Free Access