Double Eagle Inks $2.5 Billion Partnership for Permian Investments
Deal News | Apr 15, 2025 | Akin Gump Strauss Hauer & Feld
Double Eagle, in partnership with EnCap Investments, has established Double Eagle Energy Holdings V, LLC and Tumbleweed Royalty V, LLC, with a capital commitment of $2.5 billion. Double Eagle V will focus on acquisitions and investments in oil and gas properties across the Permian Basin, while Tumbleweed V will target royalty and mineral rights investments primarily in the same region. Akin Gump Strauss Hauer & Feld provided legal advisement for the deal, with the team led by energy sector specialist Wes Williams and private equity expert Mary Lovely. This strategic move positions both entities to capitalize on opportunities within one of the most lucrative oil and gas regions in the United States.
Sectors
- Oil and Gas
- Private Equity
- Legal Advisory
Geography
- United States – The investment targets the U.S. Permian Basin, a central hub for oil and gas exploration and production.
Industry
- Oil and Gas – The primary focus of the investment by Double Eagle and EnCap is in oil and gas properties in the Permian Basin, a key region for energy resources in the U.S.
- Private Equity – EnCap Investments is a private equity firm backing the large-scale financial commitment in the deal with Double Eagle.
- Legal Advisory – Akin Gump Strauss Hauer & Feld served as the legal advisor, indicating their involvement in structuring and negotiating the partnership.
Financials
- $2.5 billion – The capital commitment made for the partnership between Double Eagle and EnCap Investments.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Double Eagle | Target | Company | An energy-focused investment company partnering with EnCap to form new investment entities for oil and gas assets. |
| EnCap Investments | Investor | Company | A private equity firm providing capital for the strategic energy partnership with Double Eagle. |
| Double Eagle Energy Holdings V, LLC | Bidding Company | Company | The newly formed entity for investing in oil and gas properties in the Permian Basin. |
| Tumbleweed Royalty V, LLC | Other Company | Company | A newly formed entity focusing on royalty and mineral rights across various U.S. basins. |
| Akin Gump Strauss Hauer & Feld | Legal Advisor | Company | Provided legal advisement on the partnership between Double Eagle and EnCap Investments. |
| Wes Williams | Energy Practice Co-Head | Person | Co-led the legal team from Akin Gump advising Double Eagle in the partnership. |
| Mary Lovely | Private Equity Partner | Person | Co-led the legal team from Akin Gump advising Double Eagle in the partnership. |
| Julia Pashin | Tax Partner | Person | Part of the Akin team involved in advising the partnership. |