Private equity firm District 5 Investments said today it’s investing up to $35 million in startup Pathfinder Resources, a limited liability company formed to acquire producing and non-producing oil and gas mineral interests, royalty interests and non-operated working interests across the U.S.
The Dallas-based company is initially focused on acquisitions targeting the Marcellus and Utica Shale plays in Pennsylvania, West Virginia and Ohio, Kallanish Energy reports.
“We are excited to partner with this team,” said Ali Mirza, partner at D5. “Pathfinder’s management team has identified a repeatable, high reward acquisition strategy coupling rapid cash flow development with long term upside potential in our areas of interest.”
The Pathfinder management team has over 50 years of experience in oil and gas acquisition and development and asset management, with a proven track record in the Appalachian Basin, according to D5.
The private equity firm, formed in 2016, the Irving, Texas-based firm is energy-focused and pursues private investments in the middle-market oil and gas and oilfield services industries in North America.