Pickering Energy Partners, a Houston-based energy financial services and investment firm, is pleased to announce a strategic partnership with a large institutional investor to acquire and develop Permian Basin oil and gas interests alongside premier operators (PEP Development).
Over the next two years, PEP Development will focus on deploying at least $300 million of equity capital alongside highly experienced public and private operating companies in the Permian Basin.
“We are in an environment where oil and gas is strategic again, where energy security and trustworthy barrels are rising as a priority for companies and consumers. We are excited to invest across the Permian and play our part in bringing U.S. production to the marketplace,” stated Dan Pickering, Chief Investment Officer.
“As with prior PEP investment partnerships, PEP Development will lean on our team’s history of working with quality institutional investors and established, experienced Permian operators who share the goal of successfully acquiring and stewarding energy and natural resources,” added Walker Moody, President.
“Our drilling partnerships may include authorization for expense (AFE) acquisitions, farm-in or drill-to-earn opportunities, drill-ready acreage, or other structured opportunities. We have a lot of flexibility in how we form partnerships. Fundamentally, we deliver a capital solution in a challenging capital markets environment and are excited to build great businesses with great operators,” added Lex Hochner, Managing Director.
PEP Development will focus on drilling and development capital opportunities from $50 million to $150 million.
For more information visit pickeringenergypartners.com
