Waveland Acquires Minority Working Interests in Eight-Well Permian Basin Project
Waveland Energy Partners, a private investment sponsor with 25 years of experience in the American energy sector, has acquired minority working interests in oil and gas assets in the Permian Basin, the most active basin in North America.
This newly acquired position in the core of the Permian includes an eight-well project operated by Occidental Petroleum Corporation (NYSE: OXY), a U.S.-based oil and gas company with a market capitalization of $40 billion and operations worldwide. Financial terms of the transaction were not disclosed.
The retail funds associated with the project are Waveland Resource Partners VII, LP, and Waveland Resource Partners VIII, LP – both private total return income and growth strategy funds that blend early income distributions with strategic reinvestment and a defined path to value realization.
WRP VII launched in September 2023 and closed in July 2025 after achieving oversubscription, raising over 30% more than its initial equity raise target of $100 million.
WRP VIII launched in September 2025 and seeks to raise $100 million from accredited investors. The fund targets the Bakken and Permian basins – the Bakken basin spanning eastern Montana, western North Dakota, South Dakota, and southern Saskatchewan; and the Permian basin covering a large portion of West Texas and southeastern New Mexico.
OXY has already begun drilling within the project. First production is anticipated in the second quarter of 2026.
This transaction marks a notable expansion of Waveland’s direct energy investment platform beyond its long-standing presence in the Bakken. Since 2018, the firm’s investment model has focused on acquiring minority interests in proven, drill-ready reserves operated by leading oil and gas companies.
Based in Irvine, Calif., Waveland Capital Group is a private investment sponsor focused on American energy assets, with an emphasis on tax-advantaged income, real-asset backing, and a defined path to liquidity. Interests sponsored by Waveland are offered under Regulation D, Rule 506(c), and are available only to accredited investors.
With experience in drilling, land acquisition, and private equity investing in the energy sector, Waveland Energy Partners and its affiliates have sponsored more than 40 energy-related investments since 2000. Recently, Adam Dooley, president of Waveland Capital Partners, lent his insights to a webinar on energy investing hosted by AltsWire.
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