EnCap closes continuation vehicle with $3.5 billion for core of Permian Basin

Houston-based EnCap Investments announced Monday the closing of a continuation vehicle for EnCap Minerals and Rock River Minerals with capital commitments of $3.5 billion. EnCap said the deal is the largest upstream energy continuation vehicle to date and extends exposure to mineral and royalty assets in the core of the Permian Basin. The portfolio is comprised of 134,000 net royalty acres with production of 37,000 boed.
EnCap managing partner Doug Swanson said, “We have long held strong conviction in the Permian Basin, and we believe it will remain a critical economic engine for many years to come, particularly as industry innovation continues.”
Premier operators ExxonMobil, Diamondback, Occidental and ConocoPhillips account for 48 percent of activity across the acreage.