CPPIB and Encino form US $1.025B U.S. Oil and Gas acquisition platform

Canada Pension Plan Investment Board (CPPIB) and Encino Energy, LLC (Encino) have formed Encino Acquisition Partners (EAP) that will focus on U.S. oil and gas acquisition opportunities. CPPIB has committed up to US $1.0 billion to EAP and Encino has committed US $25 million.

EAP will focus on acquiring large, high-quality assets with an established base of production in mature basins across the lower 48 states of the United States. Encino will originate, evaluate and execute acquisition opportunities, as well as operate the assets owned by EAP.

“Our commitment to EAP allows us to efficiently expand our natural resources portfolio in our target U.S. energy markets, further contributing to the diversification of the CPP Fund,” said Avik Dey, Managing Director, Head of Natural Resources, CPPIB. “We are pleased to work with Encino management, who have deep operational experience in the lower 48 states and have a proven track record in the successful development of oil and gas assets across the U.S.”

“We are delighted to be partnering with CPPIB, one of the world’s premier investors, to establish Encino Acquisition Partners,” said Hardy Murchison, CEO of Encino. “As the oil and gas industry continues to rationalize, we see the opportunity to build a world-class oil and gas company with a diverse portfolio of high-margin assets. Encino Acquisition Partners is the logical extension of Encino’s long-term strategy to employ outstanding people focused on driving long-term investor returns through the acquisition and exploitation of high quality assets.”

Michael Hill, CPPIB’s Managing Director of Natural Resources, based in the New York office, will act as lead director on behalf of CPPIB.

Encino Energy is a private oil and gas company with leasehold and mineral interests in multiple US basins. The company is led by industry veterans Murchison, John Pinkerton (Chairman) and Tim Parker (Chief Technical Officer). Capitalized by long-term investors, Encino is devoted to generating low-risk, sustainable returns through multiple energy industry cycles and to being the partner of choice to investors, landowners, communities and operators.

photo credit: Encino Energy


Ted Liu
Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal, TechnologyMetals.ca, GoldSilverMetals.ca, and former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA). Ted was the architect of CVCA infobase, and is the architect of sophisticated and advanced CPE Media Private Capital Dealbase. Ted is President of CPE Media Inc., Canada's independent, trusted and unbiased data provider tracking Canadian VC/PE, private capital industry and public market.