Piedra Resources



Piedra Resources Logo
2011, 2014

Piedra is a privately held, Midland, Texas-based oil and gas company focused in the Permian Basin. Consistent with management's expertise and historical track record, Piedra has pursued the exploration and development of lower risk resource plays with scalability and upside. Management's track record of value creation includes two successful EnCap-sponsored entities.

The team initially partnered with EnCap in 2007 and sold the majority of its assets to Berry Petroleum (NYSE:BRY) in 2011.

Subsequently, the team partnered with EnCap in July 2011 to form Piedra II, and through the course of the investment, acquired and sold assets through two transactions:

  • the sale of 70% of its 11,800 net acres in the Wolfbone Play in Pecos and Reeves counties in Texas; and
  • the sale of its Midland Basin assets to Athlon.

EnCap currently is partnered with the Piedra management team in Piedra III, formed in 2014.