Piedra Energy and Rock River Minerals said Sept. 27 they closed their fourth capital commitment with Houston-based private-equity firm EnCap Investments LP.
With this closing, the Piedra companies bring their aggregate outstanding commitments to $592 million earmarked for deployment in the Permian Basin, according to the company press release.
“We have enjoyed our relationship with EnCap over the last 11 years,” said Piedra Co-Founder Chip Smith in a statement. “EnCap and Piedra enjoy a common vision for growth and success in the Midland and Delaware Basins.”
The Piedra companies are Midland-based and privately held. Piedra Energy is actively drilling horizontally in multiple benches in the Spraberry/Wolfcamp Trend of the northern Midland Basin. Rock River Minerals will continue its focus on aggressively expanding its mineral and royalty footprint in both the Midland and Delaware Basins.
Recommended Reading
Darbonne: ESG, ‘Oh So 2022,’ Reduced to Table Stakes?
2024-02-11 - ESG champion BlackRock is paring, while Exxon Mobil’s growing. Today, ESG is just table stakes.
Hart Energy’s Influential Women in Energy: A Woman of G.R.I.T.
2024-03-07 - When Lara Jones was at her lowest point, she developed a system to transform her fears into action. Now, her mission is to share what she learned.
Women in Energy: Here’s to Ms. Flat-Bottomed Paper Bag Inventor
2024-03-10 - A salute to the women of genius, including ‘Ms. Plain English Computer Language Inventor’ and ‘Ms. Parity is Not Conserved in Weak Interaction Discoverer.’
Darbonne: The ESG Sword: BlackRock's Life, Death by ESG
2024-04-17 - BlackRock, the $10 trillion investment manager, is getting heat for too much ESG investing, while shareholders are complaining it’s doing too little.
Keeping it Tight: Diversified Energy Clamps Down on Methane Emissions
2024-04-24 - Diversified Energy wants to educate on emission reduction successes while debunking junk science.