Private equity and fossil fuels haven’t exactly been on the BFF list for a while, but one Dallas-based firm wants you to know that when it comes to oil and gas and investments, it’s decidedly different.
Reese Energy Consulting today is following the latest news from Forever Fund, a start-up PE group formed last year, that’s already making impressive gains to raise a targeted $5.25 billion and launch the company into new private equity territory. That’s because Forever Fund is ESG-focused and happens to have oil and gas acquisitions on the brain—in particular, declining or under-performing assets in the highest-producing plays that can be remediated and responsibly further developed.
The company looks to extend well life using advanced secondary extraction methods, as well as improving top-down operational processes. It’s all a part of Tomorrow’s larger goal to redefine the future of the oil and gas industry in a sustainable manner—and do it globally. Management includes former top energy and finance execs, and so far, their pitch is resonating. The company has now announced raising $1.04 billion to date for its inaugural fund.