Andros Capital Partners has closed a joint venture with Midland-Petro D.C. Partners, under which Andros affiliate Andros Permian LLC will fund approximately $150 million 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 Phillip A. Gayle Jr., Andros managing partner. “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.”