IOG Resources II (IOGR II), a Texas-based energy investment platform, today announced a significant joint development partnership with Elevation Resources LLC, a company sponsored by Pine Brook Partners. This strategic collaboration will focus on the development of a promising acreage in the prolific Permian Basin.

The cornerstone of this partnership is a planned 2025 drilling program consisting of ten horizontal wellbores targeting the Barnett Shale formation within Andrews County, Texas. This initiative underscores IOGR II’s commitment to expanding its presence in key onshore producing regions of North America and leveraging structured drilling capital to enhance production and value.

This joint venture marks the sixth investment for IOGR II. It also represents the eighteenth investment under the broader IOG Resources platform, highlighting the platform’s continued success in identifying attractive opportunities in the oil and gas sector.

IOG Resources, established in 2014, has built a strong reputation as a reliable and strategic investment platform. Since 2017, the company has been sponsored by First Reserve, a leading global private equity firm with extensive experience in the energy, utility, and industrial markets. The collaboration with First Reserve provides IOG Resources with significant financial backing and industry expertise, enabling it to pursue ambitious development projects like this Permian partnership.

The Permian Basin, known for its vast hydrocarbon reserves and favorable geological characteristics, continues to be a focal point for energy companies. The decision to target the Barnett formation in Andrews County reflects a strategic assessment of the area’s potential and the application of advanced horizontal drilling techniques to maximize resource recovery. This partnership with Elevation Resources, a company backed by the reputable private equity firm Pine Brook Partners, further strengthens the project’s foundation and brings together complementary expertise and resources.

Elevation Resources LLC brings valuable operational experience and a deep understanding of the Permian Basin to the partnership. Pine Brook Partners, their sponsor, has a strong track record of investing in and supporting high-growth energy companies. This combination of IOGR II’s investment acumen, Elevation Resources’ operational capabilities, and the financial backing of both First Reserve and Pine Brook Partners positions the joint development for success.

The planned drilling of ten horizontal Barnett wellbores in 2025 is expected to significantly contribute to production growth and enhance the overall value of the asset. Horizontal drilling allows for greater contact with the target formation, leading to improved well productivity compared to traditional vertical wells. This strategic approach aligns with IOG Resources’ focus on optimizing production and generating strong returns for its investors.