EnCap Investments, L.P. and Double Eagle Energy Announce Formation of Double Eagle Energy Holdings IV with Over $1.7 Billion of Equity Committed
Vinson & Elkins advised EnCap Investments L.P. (“EnCap”) in connection with a strategic partnership with the team behind the Double Eagle family of companies (“Double Eagle”) to form Double Eagle Energy Holdings IV, LLC (“Double Eagle IV”) and Tumbleweed Royalty IV, LLC (“Tumbleweed IV”).
The newly-formed companies collectively have over $1.7 billion in equity commitments led by EnCap, with minority investments from Apollo Natural Resource Partners, Magnetar Capital and Double Eagle management. Double Eagle IV will primarily focus on investing in oil and gas properties in the Permian Basin, and Tumbleweed IV will focus on royalty and mineral investments across the Permian Basin.
The V&E corporate team was led by partner Matt Strock and senior associate Michael Marek, with assistance from associates David Lassetter, Houston Morgan and Drew Clements. Also advising were partner John Lynch; partner Bryan Loocke and senior associate Cesar Leyva; and partner David D’Alessandro and associate Mary Daniel Morgan.
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