Riverstone/Carlyle Global Energy and Power Funds, a group of energy-focused private-equity funds managed by New York-based Riverstone Holdings LLC, a Fort Worth, Texas-based private investor group and company management have committed $200 million to privately held, Fort Worth-based Enduro Resource Partners LLC.
Enduro will focus on acquiring and developing long-lived oil and gas properties onshore the U.S. The management team has a history of acquiring assets from South Texas to Montana.
Endure will be led by a team of successful oil and gas executives including Jonny Brumley and John Arms. Riverstone reports I. John Brumley will be a significant investor, board member and advisor to the company.
Enduro’s founders formerly led the executive team of Encore Acquisition Co. from 1998 until 2010. Encore was acquired by Denbury Resources in March for $4.5 billion.
Jonny Brumley was chief executive of Encore from 2006 until the Denbury acquisition and will be CEO of Enduro. Arms was senior vice president, acquisitions, at Encore, where he managed more than $1.2 billion in oil and gas property acquisitions.
Prior to forming Encore, I. Jon Brumley was the CEO of Southland Royalty Co., a co-founder of Cross Timbers Oil (now XTO Energy), and the CEO of Mesa Inc. (now Pioneer).
Riverstone Holdings is an energy and power-focused private equity firm.
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