Warburg Pincus-backed Chisholm Energy enters Delaware basin

Chisholm Energy Holdings LLC, a Fort Worth startup backed by a $500-million line-of-equity from private equity firm Warburg Pincus LLC, has acquired acreage in Eddy and Lea counties of New Mexico from an undisclosed private seller.

Chisholm Energy Holdings LLC, a Fort Worth startup backed by a $500-million line-of-equity from private equity firm Warburg Pincus LLC, has acquired acreage in Eddy and Lea counties of New Mexico from an undisclosed private seller.

Chisholm says “the asset includes a substantial amount of highly attractive undeveloped acreage with multiple targets in the Bone Spring and Wolfcamp formations.” Terms of the deal were not disclosed.

Formed in May 2016 to target the northern Delaware basin, Chisholm plans “to pursue unconventional resource opportunities where it can leverage its horizontal drilling and completions expertise.”

Chisholm’s chief executive officer is Mark Whitley, who served as an advisor to Warburg Pincus beginning in 2014 and previously was senior vice-president of Range Resources Corp.’s Southwest division.

Whitley is joined by Mike Middlebrook, chief operating officer; Aaron Gaydosik, chief financial officer; Martin Emery, senior vice-president, geosciences; Andrew Tullis, vice-president, engineering; and Brad Grandstaff, vice-president, operations.

Current and former oil and gas portfolio companies for which Warburg Pincus was a founding institutional investor include Antero Resources Corp., Bill Barrett Corp., Brigham Resources LLC, Brigham Minerals LLC, Broad Oak Energy LLC, Encore Acquisition Co., Kosmos Energy Ltd., Laredo Petroleum Inc., Newfield Exploration Co., Spinnaker Exploration Co., and Targa Resources Corp.

Contact Matt Zborowski at matthewz@ogjonline.com.

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