DALLAS, May 13, 2024
/PRNewswire/ -- Warwick Investment Group ("Warwick") is proud to
announce its latest strategic investment in a $150 million development agreement in the
Delaware Basin in Texas. "This transaction deploys
substantial capital at attractive risk-adjusted returns for our
investors and continues Warwick's history of investing in the
Permian Basin. The investment underscores our ability to leverage
our vertically integrated technical team to accelerate value
creation and provide investors with direct access to low breakeven
inventory," stated Kate Richard,
Warwick's Founder, CEO and Co-CIO.
Warwick's partner is a privately-owned Dallas-based company with a track record of
development success in the Permian Basin. "We are excited about the
partnership and believe that this structure has significant
benefits for Warwick and our partner. We believe Warwick's
investors will benefit from access to a diverse set of wells in
core acreage, while also being able to hedge commodity prices, with
an operator that has a history of consistently executing
development programs on time and within budget," stated
Ian Rainbolt, Co-CIO of Warwick.
As part of the agreement, a Joint Development Committee has been
formed by Warwick's technical team and its operating partner.
Warwick expects the development to start within the next two weeks
and continue for the 12-18 months into 2025.
Warwick's multi-disciplinary team comprising of engineering,
geology, investments, and operations led the investment
underwriting. Gibson, Dunn & Crutcher LLP acted as
legal advisors to Warwick.
For more information, please contact:
Warwick Investor Relations
info@warwickinvestmentgroup.com
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SOURCE Warwick Investment Group