Pickering Energy Partners (PEP), a Houston-based energy financial services and investment firm, has formed a strategic partnership with a large institutional investor to acquire and develop Permian Basin oil and gas interests alongside premier operators (PEP Development).
During 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,” said Dan Pickering, CIO.
PEP Development will focus on drilling and development capital opportunities from $50 million to $150 million.