UpCurve Energy Partners II LLC recently completed an initial acquisition in the Delaware Basin after announcing a new equity commitment from Post Oak Energy Capital LP on Jan. 5.

Originally formed in 2015 by a core team of former employees of ConocoPhillips Co., UpCurve is focused on utilizing technology and innovative engineering practices to develop the company’s acreage position in the core of the southern Delaware Basin.

“We are excited to once again partner with the Post Oak team,” UpCurve President Zach Fenton commented in a Jan. 5 company release.

“We believe that patient, long-term capital in combination with prudent and environmentally responsible development will yield attractive investment returns, particularly in the current macro environment,” Fenton added.

UpCurve currently operates a leasehold position of 12,000 net acres in Reeves County, producing 12,000 boe/d, according to the company release.

Prior to the new equity commitment, UpCurve had held a roughly 10,000 net-acre position in Reeves County producing about 10,000 boe/d. The company, however, has since tacked on another 2,000 net acres to its Reeves County position with 2,000 boe/d of production as part of UpCurve II’s initial acquisition. Further details of the transaction weren’t disclosed.

UpCurve is planning to use its remaining equity commitment from Post Oak to continue to pursue an acquire and exploit strategy and is actively evaluating acquisition opportunities in both the Delaware and Midland basins in what Post Oak Director Ryan Walsh describes as an “opportunity-rich environment.”

“We believe the team’s unique combination of technical expertise and commercial acumen will position us well for continued success in the Permian Basin,” Walsh said of the firm’s new commitment in the UpCurve release.

The amount of the new equity commitment from Post Oak has not been disclosed. Post Oak’s commitment to UpCurve was $100 million at the time of the company’s formation in 2015, according to the UpCurve website.

Onshore