Buyout firm EnCap ponders nearly $3B of Permian asset sales, Reuters reports

American private equity investor EnCap is entertaining the idea of selling two oil and gas producers in the Permian, in a deal that could add $3B to the coffers of the firm, wrote Shariq Khan and David French for Reuters. "EnCap’s efforts to offload the assets come as it attempts to exit older investments profitably on the back of higher energy prices," noted Reuters. The Fly notes separately that Ovintiv (OVV) announced this past week that it has entered into a definitive purchase agreement to acquire substantially all leasehold interest and related assets of portfolio companies of funds managed by EnCap Investments. Other publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Shell (SHEL) and TotalEnergies (TTE). Reference Link