Chisholm Energy Holdings LLC, a start-up oil and gas company, has closed on the acquisition of its first asset, located in the New Mexico region of the Delaware Basin. The asset, located in Eddy and Lea counties, includes undeveloped acreage with multiple targets in the Bone Spring and Wolfcamp formations. The asset was acquired from a private seller. Terms of the transaction were not disclosed.
Formed in May 2016 and headquartered in Fort Worth, Texas, Chisholm is focused on the northern Delaware Basin. Chisholm is backed by a $500 million line-of-equity from Warburg Pincus, a global private equity firm focused on growth investing.
Chisholm is led by CEO Mark Whitley, who since 2014 had served as an advisor to Warburg Pincus. Prior, Whitley had a long career in the industry, most recently as senior vice president of the Southwest Division of Range Resources Corp.
Whitley is joined by Mike Middlebrook, COO; Aaron Gaydosik, CFO; Martin Emery, senior vice president – geosciences; Andrew Tullis, vice president – engineering; Brad Grandstaff, vice president – operations; and Scott Herstein, vice president – business development.