District 5 Investments LP said Sept. 21 that it has made a growth equity investment in Pathfinder Resources LLC. Financial terms weren’t announced. Pathfinder, of Dallas, was formed to acquire North American mineral and royalty interests.
DALLAS–(BUSINESS WIRE)–District 5 Investments, LP (“D5”), a private equity firm focused on investing in middle-market oil and gas and oilfield services companies, today announced a growth equity investment into newly formed Pathfinder Resources, LLC (“Pathfinder”).
Based in Dallas, Texas, Pathfinder was formed to acquire North American mineral and royalty interests, with an initial focus on the Marcellus and Utica Shale plays in Pennsylvania, Ohio and West Virginia. The management team has over 50 years of experience in oil and gas A&D and asset management with a proven track record in the Appalachian Basin.
“We are excited to partner with this team,” said Ali Mirza, Partner at D5. “Pathfinder’s management team has identified a repeatable, high reward acquisition strategy coupling rapid cash flow development with long term upside potential in our areas of interest. We believe this investment will further solidify our track record of disciplined, opportunistic oil and gas investing with high risk-adjusted returns for our partners.”
This is D5’s third Fund I platform investment. The firm is actively seeking opportunities across the energy sector. Investment sizes range from $5 million to $35 million.
About Pathfinder Resources, LLC: Pathfinder, which was formed in 2017, is focused on acquiring producing and non-producing oil and gas mineral interests, royalty interests and non-operated working interests across the United States. The company is initially focused on acquisitions targeting the Marcellus and Utica Shale formations in Pennsylvania, Ohio and West Virginia. Learn more at www.pathfinder-resources.com.
About District 5 Investments, LP: D5, which was formed in 2016, is an energy focused private equity firm based in Irving, Texas. Its management team has deep operating and principal investing experience and a broad network in the energy business. The firm pursues private investments in the middle-market oil and gas and oilfield services industries in North America. D5 works in close partnership with management teams to build businesses, accelerate growth and enhance shareholder value. Learn more at www.d5inv.com.