Falcon Seaboard Resources launches $145 mln fund

Houston-based Falcon Seaboard Resources, an energy-focused investment firm, is seeking to raise $145 million for its initial Permian fund. Entoro Securities is the placement agent while Andrews Kurth Kenyon LLP provided legal counsel.

PRESS RELEASE

HOUSTON–(BUSINESS WIRE)–Falcon Seaboard Resources, LLC today announced the launch of the $145 million Falcon Seaboard Permian Fund I, LP. The fund is the first time David Dewhurst, the CEO and Chairman of Falcon Seaboard Diversified, Inc. and former Lieutenant Governor of Texas, has accepted outside investments. It is being launched to capitalize on numerous opportunities in the Permian Basin that the management team recognizes are not being pursued by larger investment and strategic players.

“We believe the economics of strategically targeting and aligning with great operators and purchasing great acreage at attractive prices in the best basin in the country will be a very successful strategy,” said Falcon Seaboard Resources Managing Partner David Dewhurst.

This fund was created to leverage the experience of the management team in aggregating acquisitions across the country’s most prolific and cost-effective basin. The goal is to purchase Permian Basin acreage as well as invest and partner with other successful E&P companies whose primary objectives are to develop lower-risk oil and gas leases, drill lower-risk projects and acquire and exploit established reserves.

“Throughout our history, we have self-funded our investments,” Dewhurst said. “But over the years, we have been approached by friends and other third parties about investing alongside us. This fund creates an ideal opportunity for investors to participate in privately negotiated equity and equity-related purchases of Permian Basin acreage, focusing on smaller, niche acquisitions that the larger private equity funds, independents and major oil companies typically do not pursue.”

Andrews Kurth Kenyon LLP is legal counsel for the fund and Falcon Seaboard Resources. Entoro Securities is the fund’s non-exclusive Placement Agent. Entoro will use its proprietary securities syndication platform, OfferBoard, to distribute fund interests.

About Falcon Seaboard
Houston-headquartered Falcon Seaboard Resources, LLC is a new energy investments focused investment management company affiliated with Falcon Seaboard Diversified, Inc., an operating energy company with a long history of pursuing oil and gas, electric power, midstream pipelines and gathering companies, storage, enhanced oil recovery, and other energy and infrastructure opportunities. Falcon Seaboard Diversified used its oil and gas experience and assets as a platform to supply natural gas; develop, build and operate natural gas-fired cogeneration plants throughout the U.S.; and develop projects worldwide in England, Spain, Germany, Argentina, and Asia. Falcon Seaboard Diversified has also developed complex power projects with associated natural gas pipelines, industrial steam hosts and long-term power offtake agreements with creditworthy counterparties.

David Dewhurst is the majority owner of both Falcon Seaboard Resources and Falcon Seaboard Diversified. Dewhurst is the former Lieutenant Governor of Texas, head of the Texas General Land Office and for 16 years served with President George W. Bush and Governor Rick Perry.