Ridge Runner Resources, LLC is a new E&P focused on the Delaware Basin

The new company has received a line of equity financing of up to $300 million from funds affiliated with Warburg Pincus. The company will be led by CEO Scott Germann, an Exxon-trained geologist with more than 20 years of financial and operational experience in the Permian Basin.

Germann said, “We are pleased to have the support of Warburg Pincus, a leading and long-standing Permian Basin investor, as we establish our business and pursue accretive acquisition and development opportunities in the Delaware Basin. We look forward to partnering with other operators in the region to accelerate our strategy and build a meaningful acreage position.”

Germann grew and led Nadal and Gussman’s Permian business over the last couple decades. Most recently, Germann served as President of BC Operating, where he led the company’s oil and natural gas exploration, development and production efforts in the Delaware Basin, until the sale of the company to Marathon Oil for $1.1 billion in June 2017.

The senior executive team of Ridge Runner Resources, all of whom have a history of working together, includes CFO Tim Patuwo, who previously worked at Apollo Global Management and KKR & Co; COO Kelvin Fisher, who joined from ExL Petroleum and Endeavor Energy; and VP of Business Development Brian Cassens, who most recently worked at RPM Energy, KKR’s technical partner.

David Habachy, managing director at Warburg Pincus said, “Scott and his team have deep and expansive knowledge and operational expertise spanning the Permian Basin, and important relationships with legacy players in the region.”

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