Falcon Seaboard launches $145m Permian investment fund

by Andrea Waitrovich

Falcon Seaboard Resources has launched the $145 million Falcon Seaboard Permian Fund I.

The fund marks the first time David Dewhurst, the CEO and chairman of Falcon Seaboard Diversified and former lieutenant governor of Texas, has accepted outside investments. The fund will seek to capitalize on numerous opportunities in the Permian Basin that the management team recognizes are not being pursued by larger investment and strategic players.

The fund was created to leverage the experience of the management team in aggregating acquisitions across the country’s most prolific and cost-effective basin. The goal is to purchase Permian Basin acreage as well as invest and partner with other successful E&P companies whose primary objectives are to develop lower-risk oil and gas leases, drill lower-risk projects, and acquire and exploit established reserves.

Houston-headquartered Falcon Seaboard Resources is a new energy investments–focused investment management company affiliated with Falcon Seaboard Diversified, Inc., an operating energy company with a long history of pursuing oil and gas, electric power, midstream pipelines and gathering companies, storage, enhanced oil recovery, and other energy and infrastructure opportunities.

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