“San Antonio oil company executive starts new venture capital-backed company”
Following his success with San Antonio-based Silverback Exploration, oil entrepreneur George Young has launched a new mineral rights and royalty company that plans to focus on the Permian Basin of West Texas and other shale plays.
Young’s new company, Pegasus Resources LLC, received a $300 million equity commitment from EnCap Investments LP, according to a statement released Monday.
Pegasus has partnered with Fort Worth-based Tilden Capital LLC to source and close mineral and royalty acquisitions across various basins. The Fort Worth office of Kelly Hart & Hallman LLP was legal adviser to Pegasus, while Thompson & Knight LLP was legal counsel to EnCap.