Grenadier Energy secured additional funding from longtime partner, EnCap Investments LP, on July 21 to continue its strategy of acquiring, developing and exploiting assets.

In a company release, Grenadier said it will use an initial $350 million equity commitment from EnCap closed in June to target acquisitions in the Lower 48. The company, led by CEO Patrick J. Noyes, noted in the release it had successfully employed this strategy through multiple iterations, most recently through the sale of a Midland Basin position to Surge Energy US Holdings Co. for $420 million.

“The Grenadier team has a proven track record of acquiring high quality assets and developing them effectively to build attractive businesses of scale,” commented Noyes in the release.

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