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Silverback Exploration II, LLC Forms With $500 Million Equity Commitment From EnCap Investments L.P.

CENTENNIAL RESOURCE DEVELOPMENT INC CL A COMMON (CDEV)  More Company Research Source: Business Wire
Last centennial resource development inc cl a common earnings: 8/6 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.cdevinc.com
PDF SAN ANTONIO, Texas--(BUSINESS WIRE)-- Silverback Exploration II, LLC (“Silverback II”), an independent oil and gas exploration company based in San Antonio, announced today that it has secured an initial equity commitment of $500 million from EnCap Investments L.P. (“EnCap”). Silverback II was formed by the same team that successfully led its predecessor company, Silverback Exploration, LLC (“Silverback I”), which was also backed by EnCap. Silverback I developed a significant position in the heart of the Delaware Basin, including approximately 35,000 net acres, production of 3,500 barrels per day of crude oil equivalent and approximately 600 horizontal drilling locations. In December 2016, its leasehold interests and related assets were sold to Centennial Resource Development Inc. and its affiliates (NASDAQ: CDEV) (NASDAQ: CDEVW) for $855 million. Silverback II was formed to pursue organic develo [Read more]

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