Intrepid-backed Rio Grande E&P Finds Exit to Two Separate, Undisclosed Buyers

Rio Grande E&P LLC sold both its conventional and unconventional Eagle Ford Shale assets located in South Texas to two separate undisclosed buyers, according to a June 1 release.

Hart Energy Staff
Intrepid-backed Rio Grande E&P Finds Exit to Two Separate, Undisclosed Buyers

Rio Grande E&P had acquired its Eagle Ford acreage in July 2019, which neighbored EOG Resources’s position in Webb County, Texas. (Source: Rio Grande E&P LLC / Oil and Gas Investor)

Rio Grande E&P LLC, the South Texas E&P founded by industry veteran Glen Hart, recently completed the sale of all its oil and gas assets marking an exit for the private equity-backed company.

“This was a fantastic outcome for Rio Grande, and I want to thank all of our employees for their dedication and hard work,” commented Hart, who served as Rio Grande’s president and CEO, in a company release on June 1.

Hart, the former CEO of Michael Petroleum Corp. and Laredo Energy, founded Rio Grande in 2018 alongside Gold Sky Gas LLC, whose principals include Governor Jeb Bush, Jeb Bush Jr, and Santi Barrosso. Additionally, Rio Grande was supported by  backing from Intrepid Investment Management LLC, the investing arm of merchant Intrepid Financial Partners LLC with offices in New York and Houston.

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