From Pulse 2.0 · Amit Chowdhry · · 1m
EnCap Closes $3.5B Permian Minerals Vehicle
EnCap Investments completes $3.5 billion minerals continuation vehicle for Permian Basin assets.
In brief
EnCap Investments completes $3.5 billion minerals continuation vehicle for Permian Basin assets. EnCap Investments closed a $3.5 billion continuation vehicle for Permian Basin mineral assets, providing liquidity to investors while maintaining long-term exposure to the portfolio. Originally reported by Pulse 2.0.
EnCap Closes $3.5B Minerals Vehicle
EnCap Investments closed a continuation vehicle with $3.5 billion in capital commitments for EnCap Minerals and Rock River Minerals.
Investor Demand Exceeds Target
Investor demand exceeded the required amount for the transaction, with participation from existing and new institutional investors.
Largest Capital Raise in Upstream Sector
The transaction represents the largest capital raise to date for a continuation vehicle focused on the upstream energy sector.
Portfolio Details
The portfolio includes 134,000 net royalty acres in the Permian Basin generating 37,000 barrels of oil equivalent per day.
Key Operators
ExxonMobil, Diamondback Energy, Occidental, and ConocoPhillips account for 48% of activity across the portfolio.
The bottom line
EnCap Investments closed a $3.5 billion continuation vehicle for Permian Basin mineral assets, providing liquidity to investors while maintaining long-term exposure to the portfolio.
