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Midland-Petro Forms $150m Drilling JV

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Andros Capital Partners has announced it has closed a joint venture with Midland-Petro D.C. Partners under which Andros affiliate Andros Permian will fund approximately $150m to participate in a development drilling program targeting the highly productive Spraberry and Wolfcamp formations in Midland County, Texas.

“MPDC has assembled a world-class position in the core of the Midland Basin, and we’re excited to be a part of its development,” said Andros Managing Partner Phillip A. Gayle, Jr. “This transaction underscores Andros’ commitment to investing in high-quality assets in partnership with talented operators. It also highlights our ability to construct a creative capital solution to enable our partner to advance their strategic objectives.”

Midland-Petro D.C. Partners is a private oil and gas company based in Midland, Texas.

Andros Capital Partners is a private investment firm based in Houston, Texas. It combines flexible, long-duration capital with an opportunistic investment mandate, leveraging a proven track record of building, operating and monetizing assets across the energy value chain.

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