A partnership of EnCap Investments and the Double Eagle management team said June 19 it is forming Fort Worth-based Double Eagle Energy Holdings IV and Tumbleweed Royalty IV. Double Eagle IV will focus on investing in oil and gas properties in Permian Basin, and Tumbleweed IV will focus on royalty and mineral investments in Permian Basin. Oil & Gas Journal said more than $1.7 billion of equity has been committed. The new entities also received minority investments from Apollo Natural Resources, Magnetar Capital and others.
Officials told Enverus that the new companies will pursue similar strategies as predecessor companies, but on a larger scale with bigger equity commitments.
