Waveland Energy Partners Closes O&G Private Placement Following $79 Million Equity Raise
Waveland Resource Partners IV L.P., a private placement offering that invests in oil and gas assets, has fully subscribed and closed the offering after meeting its $78.8 million funding limit.
Waveland Resource Partners IV L.P., a private placement offering that invests in oil and gas assets, has fully subscribed and closed the offering after meeting its $78.8 million funding limit.
Waveland Resource Partners IV L.P. co-invests in oil and gas projects alongside operating companies backed by institutional private equity funds. The fund’s assets are held in three oil and gas basins in the U.S., including the Permian Basin of West Texas, the Anadarko Basin in western Oklahoma, and the San Juan Basin in northwestern New Mexico. The fund plans to acquire, develop and sell its energy projects within a three- to five-year period.
“Our investors recognized the unique aspects of our project selection and the disciplined approach we maintain,” said Michael Greer, co-founder and chief executive officer of Waveland Energy Partners. “Every prospective project is subjected to 10-15 distinctive modeling scenarios involving hydrocarbon pricing, reserve estimates, cash flow reinvestment rates and exit valuations.”
Waveland Resource Partners IV is the fourth in a series of diversified oil and gas funds using an institutional private equity strategy. Returns are created through capital gain events and income from operations.
