Escondido Resources is an exploration and production company focused on the Olmos Trend in South Texas. The Escondido management team has an excellent track record of acquiring both producing and non-producing properties and maximizing value through additional development.
Since formation in December 2004, Escondido successfully acquired over 80,000 net acres located in the Maverick Basin in South Texas. Within this acreage position, Escondido drilled over 150 natural gas wells targeting the shallow Escondido and Olmos sands with a success rate of greater than 95%.
In September 2007, Escondido entered into a definitive agreement to sell its oil and gas assets to Swift Energy Company (NYSE: SFY) for $245 million.
EnCap currently is partnered with Escondido management in Escondido Resources II, formed in December 2007.