Rockport Companies, a veteran-owned oil and gas operator and investment manager, recently announced the first acquisition for its Rockport Energy Fund (REF).
The inaugural acquisition consists of a drill-ready development project in Reeves County, Texas, referred to as Project Bravo. The project comprises a 40 percent working interest in a Rockport-operated development program.
Project Bravo is located in the core of the Permian Basin, one of North America’s most productive oil-producing regions. The project benefits from direct-offset well performance, validated at underwriting against data from more than 200 surrounding wells. Existing midstream infrastructure in the area provides established offtake for both oil and gas production, reducing execution risk between drilling and first sales.
REF will pursue a series of development projects in proven U.S. oil and gas basins, with a focus on delivering consistent cash flow and attractive risk-adjusted returns. B
