HOUSTON and AUSTIN, Texas, March 7, 2017 /PRNewswire/ -- Ameredev II, LLC ("Ameredev" or the "Company") announced today the closing of an equity commitment of $400 million from EnCap Investments, L.P. ("EnCap") and members of Ameredev management.
Ameredev is an Austin-based exploration and production company focused on the acquisition and development of oil and gas resources in the United States. The Company is led by a multi-disciplined management team with a track record of value creation through commercial and operational excellence – most recently demonstrated by its $633 million sale of Core Southern Delaware Basin assets to Callon Petroleum Company.
Parker Reese, Ameredev Chief Executive Officer said, "The EnCap team's focus on relationships, balanced commercial and technical perspective, and track record of investment returns make them a great partner for Ameredev. We look forward to continuing the successful value-adding partnership that we have developed with them."
"We congratulate Ameredev on the successful closing of the sale of our Delaware Basin assets and are excited to continue our partnership with Parker and the entire Ameredev team through the formation of Ameredev II." -- Jason DeLorenzo, Managing Partner of EnCap
Since 1988, EnCap Investments has been the leading provider of private equity to the independent sector of the U.S. oil and gas industry. The firm has raised 19 institutional oil and gas investment funds totaling approximately $27.5 billion and currently manages capital on behalf of more than 300 U.S. and international investors. EnCap professionals represent more than 250 years of experience in the energy finance and investment business. EnCap has a proven track record, having successfully invested with approximately 220 upstream and midstream oil & gas companies.
For further information:
Chief Financial Officer
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/ameredev-ii-llc-announced-the-closing-of-an-equity-commitment-of-400-million-from-encap-investments-lp-300419634.html
SOURCE Ameredev II, LLC