Deals
EnCap Said to Seek $1.5 Billion for `Stack' Oil Explorer PayRock
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EnCap Investments stunned the oil patch last year by selling an under-the-radar Oklahoma explorer for an eye-popping price. Six months later, the Houston-based private equity firm is angling to pull off a similar feat.
EnCap is working with Jefferies Group to find a buyer for PayRock Energy and is seeking at least $1.5 billion for the Oklahoma City-based company, according to people with knowledge of the matter who asked not to be identified because the information is private.