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Garrison Energy pursues new oil and gas exploration

Published by , Deputy Editor
Oilfield Technology,

Garrison Energy Holdings, an oil and gas exploration and production company based in Midland, Texas US, has announced its launch and ongoing pursuit of acquisition opportunities focused on the Permian Basin following a US$500 million line of equity financing from an institutional investor and the company's management team and employees.

Garrison Energy pursues new oil and gas exploration

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.

Steve Weatherl, Executive Chairman of Garrison Energy Holdings, said: "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."

"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."

Caleb Weatherl, Ceo of Garrison Energy holdings, added: "With decades of experience in the region and a track record of bringing value forward for assets of all sizes, we are excited to connect with the opportunities available in the Permian Basin — whether those are horizontal or vertical drilling locations or recompletions."

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Exploration news Texas upstream news Oil & gas news