Garrison Energy to develop oil, gas exploration, production company focused in Permian basin
(WO) — Garrison Energy Holdings, an oil and gas exploration and production company based in Midland, Texas, announced its launch and ongoing pursuit of acquisition opportunities focused on the Permian basin following a $500 million line of equity financing from an institutional investor and the company's management team and employees.
Garrison intends to develop a scaled oil and gas exploration and production company by acquiring assets in the Permian basin. It is interested in evaluating opportunities in the Delaware basin, Central basin platform, Midland basin, and Northwest shelf. The company is targeting assets with a significant inventory of horizontal locations, vertical locations, or recompletion opportunities.
"Our team has built our careers on our understanding and familiarity with the Permian basin, which continues to prove to be the most prolific oil and natural gas-producing region in the United States," said Executive Chairman Steve Weatherl. "There is an abundance of opportunity in the region, and we are already evaluating deals ranging from as small as a section with high quality inventory to as large as upwards of one billion dollars, given our investor's ability to add additional equity capital for the right opportunity."