[Context: On June 11, Jumar Energy Capital announced a joint development agreement with Tulsa-based Mongoose Energy, backed by EnCap, to provide capital for development and acquiring non-op interests in Pecos County, Texas. Further details and related links are below.]
Jumar Energy Capital Enters Into Joint Development Agreement With Mongoose Energy
HOUSTON, June 11, 2019 /PRNewswire/ — Jumar Energy Capital, LLC (“Jumar”), an oil and gas investment company, announced today that it has entered into a joint development agreement with Mongoose Energy, LLC (“Mongoose”), a Tulsa-based oil and gas company backed by EnCap Investments L.P. Pursuant to the agreement, Jumar will provide growth capital to fund development and acquire non-operated working interests in oil and gas assets in Mongoose’s acreage position in the Key Largo area of Pecos County, Texas. Mongoose’s contiguous acreage is strategically located in the southern Delaware Basin.
“We are excited to partner with Jumar Energy Capital and look forward to working with the Jumar team. Our partnership is key to unlocking the value of our acreage position and we are eager to begin a successful development program in one of the most prolific areas in the Delaware Basin,” said Steve Widner, Mongoose Energy president.
“The experience of the Mongoose team along with the promise of the Key Largo position offered Jumar an attractive investment opportunity. We look forward to working with such a talented team,” said Bryan Fisher, Jumar managing director.
About Mongoose Energy, LLC
Formed in 2017 with an equity commitment from EnCap Investments L.P., Mongoose is an exploration and production company focused on acquisition and low-risk leasing and drilling opportunities in Texas. Mongoose is led by a disciplined team of oil and gas professionals with extensive experience in the Delaware Basin. EnCap Investments is the leading provider of venture capital to the independent sector of the U.S. oil and gas industry.
About Jumar Energy Capital, LLC
Founded in 2017, Jumar Energy Capital is a Houston-based oil and gas investment company. Focused primarily on non-operated, asset-level investments, Jumar partners with skilled operators to provide capital to support their growth or liquidity goals.