Ridge Runner Resources’ $300 Million Equity Fianancing

Vinson & Elkins advised Ridge Runner Resources, LLC on the transaction

Ridge Runner Resources, LLC, a newly formed oil and gas exploration and production company focused on the Delaware Basin, has received a line of equity financing of up to $300 million from funds affiliated with Warburg Pincus, a global private equity firm focused on growth investing.

Ridge Runner intends to leverage its regional expertise and deep network of local relationships to pursue partnerships with exploration and production operators as well as to acquire and develop meaningful acreage positions across the Delaware Basin. The Company is led by Chief Executive Officer Scott Germann, an Exxon-trained geologist with more than 20 years of financial and operational experience in the Permian Basin. Mr. Germann organically grew and led Nadal & Gussman’s successful Permian business over the last couple decades. Most recently, Mr. Germann served as President of BC Operating, where he led the company’s oil and natural gas exploration, development, and production efforts in the Delaware Basin, until the sale of the company to Marathon Oil for $1.1 billion in June 2017.

Ridge Runner Resources is a newly formed oil and gas exploration and production company focused on the Delaware Basin. The company is led by Scott Germann and a senior team of experienced oil and gas professionals in the Permian Basin.

Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $44 billion in private equity assets under management. The firm’s active portfolio of more than 150 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 17 private equity funds which have invested more than $60 billion in over 800 companies in more than 40 countries.

V&E advised with a team including partner Matt Strock (Picture) with assistance from senior associate Matt Falcone and associate Brittany Smith. Also advising were partner David Peck and associate Lauren Meyers; partner Sean Becker; and partner Stephen Jacobson and associate Austin Light.

Involved fees earner: Matthew Strock – Vinson & Elkins LLP; Matthew Falcone – Vinson & Elkins LLP; Brittany Smith – Vinson & Elkins LLP; David Peck – Vinson & Elkins LLP; Lauren Messonnier Meyers – Vinson & Elkins LLP; Austin Light – Vinson & Elkins LLP; Sean Becker – Vinson & Elkins LLP; Stephen Jacobson – Vinson & Elkins LLP;

Law Firms: Vinson & Elkins LLP;

Clients: Ridge Runner Resources, LLC;


Author: Ambrogio Visconti