Newly formed DoublePoint Energy LLC holds one of the largest private land positions in the core of the Midland 

Double Eagle Energy Holdings III of Ft. Worth and Denver’s FourPoint Energy have formed DoublePoint Energy LLC, a new pure-play Midland Basin company with more than 70,000 acres in Midland, Glasscock, Martin, Howard, Upton and Reagan Counties.

The assets of the new company are a combination of Double Eagle’s existing Midland Basin acreage and production, along with additional assets that were recently acquired from undisclosed sellers.

DoublePoint said it will continue to consolidate its position in its core areas through bolt-on acreage acquisitions and acreage trades while investing additional capital in its active drilling program, the companies said in a news release.

Double Eagle has one rig running.

John Sellers and Cody Campbell will serve as Co-CEOs of DoublePoint, and George Solich will serve as the Executive Chairman.  The Double Eagle and FourPoint teams will continue to build and develop what they believe is one of the last largely undeveloped positions in the core Midland Basin.

Double Eagle was formed in 2017 with backing from funds managed by certain affiliates of Apollo Global Management, LLC (NYSE: APO), Magnetar Capital and management.  FourPoint Permian, LLC was formed with equity from Quantum Energy Partners, FourPoint Energy, funds managed by GSO Capital Partners LP, and other investors.

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