EnCap Investments

Piedra Resources provider of oil and gas exploration and production services. Founded in 2004 by Energy Executives Robert Beecherl and Chip Smith in partnership with EnCap Investments L.P. With a focus on the Permian Basin, Piedra strives to create value through exploration, development and acquisition of natural gas and oil reserves. With the expertise and experience that Piedra was built upon, they pursue the exploration and development of lower-risk resource plays with scalability and upside. Their team has a proven track record of drilling and operational excellence.

Silverback Exploration is an oil and gas exploration and production company focused on leasing and drilling opportunities in both conventional and unconventional resource plays throughout the United States. The company has developed a strong expertise in horizontal drilling and employs advanced technologies to enhance operational efficiency. Silverback Exploration aims to pursue organic development projects alongside strategic acquisitions, catering to the needs of both private and publicly traded companies. Recently, the company demonstrated its capability by successfully developing and selling assets in Reeves County, achieving a significant return on its investment.

PayRock Energy, LLC is an Oklahoma City-based company funded by EnCap Investments, L.P. focused on the acquisition and development of resources in the STACK play of Oklahoma. Payrock Energy's Management Team has an extensive track record of value creation together with experiences from Oklahoma City’s most prominent large independent operators.

Paloma Resources is an oil and gas firm that provides oil and gas reserve exploration, exploitation, acquisition, and production. The company offers services related to oil and gas exploration, acquisition, and development of petroleum acreage.

Piedra Resources provider of oil and gas exploration and production services. Founded in 2004 by Energy Executives Robert Beecherl and Chip Smith in partnership with EnCap Investments L.P. With a focus on the Permian Basin, Piedra strives to create value through exploration, development and acquisition of natural gas and oil reserves. With the expertise and experience that Piedra was built upon, they pursue the exploration and development of lower-risk resource plays with scalability and upside. Their team has a proven track record of drilling and operational excellence.

Silverback Exploration is an oil and gas exploration and production company focused on leasing and drilling opportunities in both conventional and unconventional resource plays throughout the United States. The company has developed a strong expertise in horizontal drilling and employs advanced technologies to enhance operational efficiency. Silverback Exploration aims to pursue organic development projects alongside strategic acquisitions, catering to the needs of both private and publicly traded companies. Recently, the company demonstrated its capability by successfully developing and selling assets in Reeves County, achieving a significant return on its investment.

Nuevo Midstream, LLC is a start-up midstream company headquartered in Houston. The company was formed with a $65 million commitment from the EnCap Energy Infrastructure Fund, Torch Energy Advisors Incorporated and Petroleum Fuels Company, Inc., including contributions of assets and management services from Torch Energy and Petroleum Fuels. Nuevo Midstream will focus its operations in the Permian Basin with emphasis on the Bone Springs and Wolfcamp formations and the Avalon Shale trend in southeast New Mexico and west Texas. Led by Jay Lendrum, Torch Energy's current president and COO, the senior leadership group at Nuevo Midstream has more than 120 years of energy industry experience and also includes Randy Ziebarth, vice president of operations; Chris Work, vice president and chief financial officer; and Dwight Serrett, vice president of engineering and construction.

Montage Resources Corporation was an oil and natural gas exploration and production company based in Irving, Texas, primarily active in the United States. The company focused on the Utica and Marcellus Shales, holding approximately 227,000 net effective undeveloped acres across southeast Ohio, West Virginia, and North Central Pennsylvania. As of its last reporting, Montage had estimated proved reserves of approximately 2,729.8 billion cubic feet of natural gas equivalent. Founded in 2011, Montage Resources emerged from the combination of Eclipse Resources and Blue Ridge Mountain Resources, and it underwent a name change in 2019. The company operated exclusively in the exploration and production segments of the oil and gas industry. In November 2020, Montage was acquired by Southwestern Energy.

Laramie Energy II, LLC is a natural gas producer based in Denver, Colorado, specializing in the exploration and development of unconventional gas reserves in the U.S. Rockies, particularly within the Piceance Basin of Western Colorado. Founded in 2004, the company focuses on acquiring and developing oil and gas resources from tight sands, coal seams, and shales. Laramie Energy II engages in a comprehensive program to identify and cultivate these resources, positioning itself as a key player in the natural gas sector.