Jumar Energy Capital, an oil and gas investment company, announced that it has entered into a joint development agreement with Mongoose Energy, a Tulsa-based oil and gas company backed by EnCap Investments.
Pursuant to the agreement, Jumar will provide growth capital to fund development and acquire non-operated working interests in oil and gas assets in Mongoose’s acreage position in the Key Largo area of Pecos County, Texas. Mongoose’s contiguous acreage is strategically located in the southern Delaware Basin.
“We are excited to partner with Jumar Energy Capital and look forward to working with the Jumar team. Our partnership is key to unlocking the value of our acreage position and we are eager to begin a successful development program in one of the most prolific areas in the Delaware Basin,” said Steve Widner, Mongoose Energy president.
“The experience of the Mongoose team along with the promise of the Key Largo position offered Jumar an attractive investment opportunity. We look forward to working with such a talented team,” said Bryan Fisher, Jumar managing director.
Source: Company Press Release.