Haynes and Boone Represents Endeavor Energy in $300 Million “DrillCo” Drilling Partnership

Haynes and Boone Represents Endeavor Energy in $300 Million “DrillCo” Drilling Partnership

In 2017, Endeavor entered into a $300 million JV with Development Capital Resources (DCR), a newly formed oil and gas subsidiary of asset manager Ares Management LP to develop certain properties in the Midland and Martian counties. DCR will fund the majority of the capital required to develop identified horizontal locations in the Midland and Martian counties. Upon achieving an agreed upon return, DCR’s working interest will decrease during the operations phase of the drilling joint venture.