Increased equity commitments will enable Fort Worth-based Double Eagle Energy Holdings to accelerate its acquisition and development strategy in Permian Basin. Enverus reported recently that EnCap Investments, portfolio company Double Eagle and affiliated mineral company Tumbleweed Royalty IV increased equity funding to $2.3 billion.
“We are ramping up our development pace,” co-CEOs Cody Campbell and John Sellers of Double Eagle said. “We recently added two additional drilling rigs to our program and will continue running four rigs for the foreseeable future with a potential fifth rig joining later this year. We are now in a position to execute on a robust development plan while maintaining the ability to expand our footprint throughout the Permian.”
