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Independence Resources Management

Company Summary

Description

Independence Resources Management (“IRM”) is a Houston, Texas based oil and gas exploration and production company. IRM is pursuing onshore oil and gas acquisition, farm-in and play extension opportunities in known producing basins in the Mid-Continent and Rockies regions of the United States, with an initial focus on the Anadarko and Permian Basins. The Company is focused on plays with large amounts of hydrocarbons in place and low recovery factors, where advanced drilling and completion techniques can create compelling risk-adjusted returns.

Website

http://www.warburgpincus.com/investments/independe...

Related Entities

Recent news

  • 12/18/2020 - Earthstone Energy... (subscriber access)

Company Transactions

Date: 3/31/2021
Type: Acquisition

BUYERS:
  • Earthstone Energy, Inc.
    • SELLERS:
  • Independence Resources Management
    • DETAILS:

    COST: 185.9 $MM

    VOLUMES: 8.78 MBOE/d

    ACRES: 38500 Acres

    NOTES:
    Earthstone Energy has reached a deal to acquire privately-held Independence Resources Management for $185.9 million. Independence is backed by Warburg Pincus and the deal includes $135.2 million in cash and 12.7MM common shares valued at $50.8 million.
    REGIONS:
  • Permian Basin
  • Midland Basin