New Houston energy company launches with $500M investment – HBJ

A newly formed Houston energy company is getting a $500 million boost from private equity in order to crank up oil and gas exploration and production activities.

New York-based Warburg Pincus LLC is funding the new Independence Resources Management LLC, or IRM, startup that will focus on the Anadarko Basin in Texas and Oklahoma, as well as the Rockies.

IRM describes itself as focused on unconventional shale plays and more with large amounts of hydrocarbons and low recovery factors.

via Warburg Pincus funds launch of new Houston energy company Independence Resources Management – Houston Business Journal.

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