Oil and gas-focused private equity firm EnCap Investments LP has closed its oversubscribed tenth energy capital fund at a hard cap of $6.5 billion, the firm announced today.
Oil and gas company Eclipse Resources has agreed to sell 62.5 million shares of its common stock in a $440 million private placement. The backers include EnCap Investments. The transaction is expected to be completed on or around January 28, 2015. KeyBanc Capital Markets advised Eclipse Resources and also served as placement agent.
EnCap Investments is back in the market targeting $5 billion for its next flagship energy investment vehicle and is aiming for a first close in the first quarter.
Riverstone Holdings and EnCap Investments have each committed $225 million to Sierra Oil & Gas S. de R.L. de C.V., a Mexican exploration and production company. Infraestructura Institucional, a Mexican infrastructure private equity firm, committed $75 million to the company. All three investors have the option to double their existing commitments once initial equity has been deployed.
Oil and gas company Eclipse Resources Corp filed with U.S. regulators for an initial public offering of common stock that would raise about $100 million, Reuters reported.
EnCap Investments only needed five months to raise its most recent fund. EnCap’s fund IX closed at its $5 billion hard cap last week.
What’s the hottest topic at the Buyouts Dallas conference? It’s not the fiscal cliff or the lack of M&A but a private equity firm: EnCap Investments. EnCap, which focuses on oil and gas, is out fundraising for its latest fund, LP and placement sources say. The pool, EnCap energy Capital Fund IX, has a $4.25 billion target and a $5 billion hard cap, sources say.
(Reuters) – Privately owned oil and gas company Cordillera Energy Partners is exploring a sale and is hoping to bring in more than $3 billion, sources familiar with the matter said. Cordillera, which is owned by private equity firm EnCap Investments LP and other investors, has around 213,000 acres and more than 400 operated wells […]
Some PE firms may be having problems fundraising but don’t tell that to Berkshire Partners.
The Boston-based firm has been marketing for their eighth fund, which is clocking in at $4 billion, three sources say. What is so incredible is that Berkshire only began fundraising in late January and is expected to announce a first close in the next week, a source says. A final close for Berkshire Fund VIII LP is seen coming 60 days after.
Initial public offerings by U.S.-based buyout shops so far this year include some heavy hitters, but how are the portfolio companies that went public in 2010 doing? The table below looks at 10 with the highest returns through Friday.
As of March 18, 2011, Oasis Petroleum Inc. has performed the best of the class of 2010 based on the increase in its stock price. Its shares are trading 52.96 112.57 percent higher compared with its IPO price. EnCap Investments LP’s Oasis Petroleum went public on June 17. It raised $588 million through the sale of 42 million for $14 a share. The Houston-based oil and gas explorer and producer ended Friday at $27.76.
Escondido Resources II LLC, a fund backed by private equity commitments from EnCap Investments L.P., has sold 11,050 acres in the Eagle Ford Shale for $115.3 million. The transactions closed in December 2010. Midland, Texas-based Escondido Resources is focused on the development of conventional and unconventional reserves in South Texas.
Just how different is the fundraising market these days? Just consider the case of EnCap Investments LP.
On Monday, EnCap announced it had raised $3.5 billion for its eighth “upstream” fund, which will invest in companies that drill and produce oil and gas. David Miller, an EnCap co-founder and a managing partner, estimates that the PE shop spent nine to 10 months marketing for EnCap Energy Capital Fund VIII. By contrast, the buyout shop spent roughly four to six months fundraising for each of its last four to five funds.
“The world changed in 2008,” Miller told me. “There was huge demand. But it took longer to get people to the finish line because the due diligence was more extensive.”
EnCap Investments said late Monday that it has raised $3.5 billion with its latest fund. EnCap Energy Capital Fund VIII was “significantly oversubscribed,” the PE firm said. EnCap is an oil and gas PE firm with offices in Dallas and Houston.
(Reuters) – Oil and natural gas exploration company Oasis Petroleum Inc (OAS.N) said late on Wednesday it priced its initial public offering at $14 a share. Houston, Texas-bases Oasis sold 42 million shares in its offering. The company had earlier planned to sell the shares for $13 to $15 each. The company is leasing land […]
Caballo Energy LLC has secured a private equity commitment from EnCap Investments. No financial terms were disclosed. Caballo is a Tulsa-based company formed acquire, develop and manage natural gas gathering, compression, treating, processing and marketing assets.
EnCap Investments has closed an energy infrastructure fund with $791.6 million in capital commitments. The vehicle will focus on the midstream sector of the oil and gas industry in North America, and will be managed in partnership with Flatrock Energy Advisors.
NEW YORK (Reuters) – Oil and gas exploration company Oasis Petroleum Inc filed for an initial public offering of up to $350 million on Thursday. Houston, Texas-based Oasis is an independent oil and natural gas exploration and development company. Most of the company’s business is focused in the Williston Basin in northeastern Montana and northwestern […]
EnCap Investments LP is plotting its eighth fund and may need a placement agent to help it tap international investors. David Miller, a co-founder of the Houston based firm, told Buyouts that EnCap will start raising the fund late in first quarter or early in second quarter 2010. The firm will likely target somewhere in […]