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EnCap to Consider Asset Sales Worth Combined $6 billion

  • Private equity firm working with advisers for Permian sales
  • Assets expected to interest strategics already in basins

Private equity firm EnCap Investments is planning a sale of two bundles of oil and gas assets in Texas that could fetch more than $6 billion, according to people familiar with the matter.

The company is looking to sell positions in the Delaware Basin, which are made of up of Advance Energy Partners and Ameredev II, and the Midland Basin, which includes assets from Black Swan Oil & Gas, Piedra Resources and Petrolegacy Energy, said the people, who asked not to be identified because they weren’t authorized to speak publicly.