Silverback Exploration II LLC, San Antonio, will “pursue organic development projects and strategic acquisitions in conventional and unconventional resource plays across the US” after securing a $500 million equity commitment from EnCap Investments LP, according to a news release.
The company’s managers led Silverback Exploration LLC, which also had EnCap financial support and sold its leasehold and other assets to Centennial Resource Development Inc., Denver, and affiliates for $855 million in December 2016.
The predecessor company had assembled a position of 35,000 net acres with 3,500 boe/d of net production and 600 horizontal drilling locations in Reeves County, Tex.
Silverback managers are Stephen Lipari, chief executive officer; David Frye, chief commercial officer; and Jon Conaway, chief exploration officer. George M. Young Jr. and Ted Collins Jr. are nonexecutive advisers.
