EnCap To Put $350M Into Texas Oil And Gas Startup

Law360, Dallas (November 26, 2013, 5:12 PM EST) -- Private equity firm EnCap Investments LP committed $350 million to a new oil and gas exploration company, which will pursue and develop horizontal drilling opportunities in unconventional plays across the country, the companies announced Tuesday.

Silverback Exploration LLC, which began discussions with EnCap in August, talked with a handful of other equity providers before deciding to move forward with the Houston-based fund, which specializes in independent oil and gas companies. Led by CEO George M. Young Jr., Silverback opened offices in San Antonio last month and...
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