(WO) — Post Oak Energy Capital-backed Ichthys Energy Partners has completed the sale of a portion of its Permian basin assets to multiple buyers while retaining its core position in New Mexico’s Northern Delaware basin.
Terms of the transactions and the identities of the buyers were not disclosed.
Dallas-based Ichthys focuses on aggregating and developing upstream assets in the Northern Delaware basin. Post Oak provided the company with an equity commitment in October 2024.
“These transactions reflect our commitment to maximizing risk-adjusted returns to investors through Ichthys’ proven strategy of aggregating and optimizing assets in the Northern Delaware Basin,” said Michael Poynter, CEO of Ichthys.
Following the divestitures, Ichthys said it remains well capitalized and continues to have an equity commitment from Post Oak to develop its existing New Mexico assets.
The company also plans to pursue additional operated and non-operated acquisition opportunities across the Permian basin as it expands its upstream portfolio.
“The Northern Delaware continues to be one of the most attractive regions for upstream capital investment in North America, and we look forward to continuing our partnership with Ichthys as it pursues additional opportunities in the basin,” said Ryan Walsh, managing director of Post Oak.
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