The Hunt Is on for VTX Energy
Not sure if you’ve heard but securing private equity capital in the oil and gas industry right now is about as easy as wrestling a honey badger, and a big reason we find ourselves hamstrung to develop new projects and produce more supplies. But for one Austin-based E&P, the search to find capital in an investment-adverse PE environment ended with a partnership that could well set the stage for an alternative source of oil and gas financing.
Reese Energy Consulting today is following the latest news from VTX Energy Partners—a fresh start-up of three months that takes its name from the previously known ATX Energy Partners and global commodities firm Vitol. As VTX, the combined company is on the hunt for big development game, especially in the Permian’s Delaware or the Williston Basin. And with billions budgeted to build at least one large position, CEO Gene Shepherd is re-dipping his toes in familiar waters after a career of acquiring and divesting upstream assets in both regions. For its part, Vitol trades 7.6 MMBPD of crude oil and other productions with investments across the energy spectrum. The firm’s Vitol Americas is headquartered in Houston.