Oil & Gas Dealmaking Heats Up With $20 Billion of Assets in Play

Buyout shops are finding a rare exit opportunity in the US oil patch.

US private equity firms are shopping more than half-dozen closely held oil and gas companies in Texas, Colorado and elsewhere that together are worth about $20 billion, after the Iran War pushed crude above $100 a barrel.

That’s spurred long-time energy players to bring choice fossil fuels holdings to market.

EnCap Investments, one of the busiest oil and gas-focused private equity firms in Houston, is seeking $2 billion for Ridge Runner, which operates in the Permian Basin of West Texas and New Mexico, according to people ...