Approach

How we partner

Wellspring Energy Resources is a Dallas-based energy investor backed by NGP. Investment size ranges from $2 million to more than $100 million, with a preference for experienced operators and assets with known geology and clear economics.

Badlands, North Dakota

Depending on the opportunity, we can purchase a working interest, fund a development program, or provide capital against an asset. Our partners typically remain operator, and governance, where applicable, is set deal by deal. Consideration can include cash, a carry, or a reversion, whichever best aligns incentives and meets our partners' goals.

What we look at

Opportunity types we've closed or proposed on since 2024.

Non-op interests

Working interests for cash or on a carry, including single-well AFEs and co-bids alongside operators and other buyers.

  • Producing-asset acquisitions
  • Development acquisitions
  • Acreage acquisitions
  • Single-well AFEs and co-bids

Drilling partnerships

Drillcos and development JVs, in exchange for a working interest that can step down once a return hurdle is met.

  • New-drill programs
  • Recompletion programs
  • Lease-bank and drilling programs

Structured capital

Capital for acquisitions, development, and recapitalizations, plus infrastructure, equipment, and facilities.

  • Credit
  • Preferred equity
  • Asset-level financing, including Buildco and production payments

17 transactions closed since 2024.

What we look for

  • Experienced operators
  • Known geology, producing or development-ready
  • Clear economics
  • Deals from $2mm to $100mm+

Example structures by sector

Structures we've designed and proposed, by sector.

Upstream Midstream Downstream Power Oilfield services Energy transition
Creditacquisition, development, or recap
Preferred equityacquisition, development, recap, or tax credits
Asset-level financingincl. Buildco and equipment

Designed and proposed

Structured capital

Example structure: Buildco

Infrastructure capital repaid from throughput.

  1. We fund the asset
  2. Throughput repays us
  3. Our share steps down
  4. You own it outright
  1. We fund the gathering line, water system, compression, or facility.
  2. We're repaid from what flows through it, as a pro rata ownership share or as a carve-out of its revenue secured by a lien on the asset.
  3. Our share steps down as we earn our return.
  4. Once we've earned our return, you own the whole asset outright.

Volume risk can sit with us. Each Buildco is structured to limit the impact on your balance sheet and existing credit facilities, subject to your own accounting and lender review.

How we work

  1. 1

    Send us what you have

    A teaser, an AFE, a data room link, or a phone call is enough to start.

  2. 2

    Joint review

    Land checks title and burdens, engineering checks the wells and forecast, and finance checks structure and returns.

  3. 3

    Focused diligence

    We ask only for what we need to give you an answer.

  4. 4

    Closing

    We work with you through signing and funding.

Responsibility

We seek out operators who are good stewards of the environment and of the communities where they work. Environmental, safety, and regulatory matters are part of our diligence on every opportunity, including each operator's safety and environmental record.

Capital partner

Wellspring is backed by an equity commitment from funds managed by NGP, an energy private equity firm investing since 1988.

ngpenergy.com

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