X2 Resources Announces Equity Commitment

Whats Happening:

X2 Resources has secured an equity capital commitment from EnCap Investments, Westlawn Group, Rice Investment Group, and its management team. The fund is targeting $500 million to multibillion-dollar acquisition opportunities across premier oil and gas basins. This move follows the successful sale of XCL Resources for $2.64 billion in October 2024.

Key Moves:

• X2 Resources secures equity commitment from multiple investors

• Fund targets $500 million to multibillion-dollar oil and gas acquisitions

• X2 team previously led XCL Resources' $2.64 billion sale in October 2024

By The Numbers:

• X2 targeting $500 million to multibillion-dollar acquisitions

• Previous venture XCL Resources sold for $2.64 billion in October 2024

• EnCap has raised 25 funds totaling over $47 billion

Key Quotes:

• "We are thrilled to be in partnership with EnCap, Westlawn, and RIG, and deeply appreciate their support and trust." - Gray Lisenby, CEO of X2

• "We are excited to partner with X2 in its next venture. X2 has a proven track record of excellence..." - Jason DeLorenzo, Managing Partner of EnCap

Bottom Line:

X2 Resources' new equity commitment positions the fund to capitalize on significant acquisition opportunities in the oil and gas sector. With strong backing from established investors and a track record of success, X2 is poised to make substantial investments and potentially replicate its previous success in creating value through large-scale asset development.

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