Warwick Energy Group

Warwick Energy Group is the largest platform of Warwick Group, an alternative asset private equity firm. The firm has approximately $2 billion in managed assets and has completed over 1,000 transactions since inception. Warwick invests its own capital alongside its partners' capital. Warwick was founded in 2010 and is a premier provider of private equity capital in the US upstream energy, renewable energy and real estate industries.[2][1]

Warwick Energy Group
Private
IndustryPrivate Equity, Energy, Renewable Energy, Real Estate
Founded2010 (2010)
Key people
Kate Richard
(Founder, CEO)
Brian Blad
(CFO)
Andrew Cullen
(SVP–Geology)
Doug Bellis
(SVP–Geology)
ProductsPrivate Equity
Total assets~$2 billion (2019)[1]
Number of employees
~70 (2019)
Websitewarwick-energy.com

Current investments of note include ownership (I) of the largest private company in the core of the STACK and SCOOP oil and gas fields in Oklahoma, and (II) an interest in the Eagle Ford Shale oil field (including midstream infrastructure) in Karnes and Live Oak Counties, Texas. Previous divestitures include assets located in the Midland Basin in Texas, the Powder River Basin in Wyoming, the Fayetteville Shale in Arkansas, the Delaware Basin in Texas and the Bakken Shale in North Dakota. Current Warwick Energy Group funds are focused on investment in low cost oil basins in Texas, New Mexico & Oklahoma.[2]

Warwick has approximately 70 investment professionals. The company's technical staff includes industry veterans from global energy companies such as Continental Resources, Chesapeake Energy, EOG Resources, Devon Energy, Anadarko Petroleum, Chevron, and ConocoPhillips.[3]

In June 2019, Warwick's CEO, Kate Richard was selected as EY's Entrepreneur Of The Year 2019 Southwest Award for FinTech & Financial Services[4]

In January 2019, Warwick was featured by the Kayo Conference Series as one of the "Top 19 in 2019 - Buyout Funds Founded by Women."[5]

In October 2018, Warwick's CFO, Brian Blad was named one of Oil & Gas Investor's "Forty Under 40 in Energy"[6]

History

Warwick was founded in 2010 by CEO Kate Richard, a former investment banker with Goldman Sachs and energy investor for Serengeti Asset Management and MSD Capital, Michael Dell's private investment fund in New York.[7] In 2013, Warwick invested capital of its first special purpose acquisition entity, Warwick Partners I, LLC.[8]

Investments

Below is a summary of Warwick's investment vehicles since its inception in 2010.[9]

Investment Vintage Year Focus Area
Warwick Partners I, LLC 2013 Permian Basin, Mid-Continent basins
Warwick Partners II, LLC 2014 Eagle Ford Shale, Mid-Continent basins
Warwick Partners III, L.P. 2015 SCOOP, STACK, Permian Basin, Eagle Ford Shale, Fayetteville Shale
Royalties Joint Venture 2015 Permian Basin, Mid-Continent basins
Warwick Partners IV, L.P. 2019 Delaware Basin, Midland Basin and Eagle Ford Shale

Activities
  • In 2010, Warwick Energy Group, LLC was founded in New York.
  • In 2013, Warwick invested the capital of Warwick Partners I LLC in the Permian Basin of Texas, the Mid-Continent Basins of Oklahoma and Arkansas, the Powder River Basin of Wyoming, and the DJ Basin of Colorado.[8]
  • In 2014, Warwick invested the capital of Warwick Partners II LLC in oil and gas and midstream interests in the Eagle Ford Shale of South Texas. That same year, Warwick entered into a joint venture through which it acquired oil and gas mineral and royalty assets for direct investor ownership on behalf of family offices and US & international pension funds.[10][11]
  • In May 2015, Warwick Energy Investment Group, LLC, an affiliate of Warwick, became a registered Investment Adviser with the U.S. Securities and Exchange Commission.[12]
  • In August 2015, Warwick announced its first closing and commenced capital deployment for Warwick Partners III, L.P., a discretionary private investment fund.[13]

Strategy

Warwick focuses on acquiring and consolidate acreage positions in core oil and gas fields across the United States, with a particular focus on New Mexico, Texas and Oklahoma.[14] In late 2014 after commodity prices collapsed, Warwick profited by targeting "core-of-core" low cost areas where drillers could produce profitably despite low hydrocarbon prices.[1] In an interview with Fortune, CEO Kate Richard said that the company's assets can break even at $30 per barrel oil prices and see 20%-50% returns at between $40 and $50 per barrel oil prices in the SCOOP and STACK plays in Oklahoma.[15][1]

Warwick invests heavily in data science and software technologies to explore profitable opportunities and expand acreage positions quickly.[16] The company has hired data scientists and software developers from Silicon Valley to build big data capabilities and predictive models.[16]

See also

References
  1. Shawn Tully (12 May 2017). "Meet the New Generation of Oklahoma Oil". Fortune.com. Retrieved 27 June 2017.
  2. "Warwick Group: Overview". LinkedIn.
  3. Twenty Under 40. Press Release, April 14, 2014
  4. "EY announces winners of the Entrepreneur Of The Year® 2019 Southwest Award". www.ey.com. Retrieved 2019-07-16.
  5. "Kayo |". Kayo. 2019-01-10. Retrieved 2019-02-05.
  6. "Forty Under 40: Brian Blad, Warwick Group". Hart Energy. Retrieved 2019-05-21.
  7. World Economic Forum (July 2017). "World Economic Forum People". weforum.org. Retrieved 9 July 2017.
  8. "Katherine Richard: Founder; Chief Executive Officer, Warwick Energy Group". Oil and Gas Investor. Hart Energy. 1 May 2014. Retrieved 27 June 2017.(subscription required)
  9. Warwick History (company website); retrieved 19 July 2017.
  10. "This week's buyers: Warwick Partners, Williams, Ares Management". Shale Gas International. 20 June 2014. Retrieved 27 June 2017.
  11. "Warwick Partners purchases 7,300 Eagle Ford acres". Fuel Fix. 20 June 2014. Retrieved 27 June 2017.
  12. "Investment Adviser Firm Summary". SEC.gov. Securities Exchange Commission. 15 May 2015. Retrieved 27 June 2017.
  13. "SEC Filing Detail". SEC.gov. Securities Exchange Commission. 24 February 2015. Retrieved 27 June 2017.
  14. "Warwick Partners II, LLC Announces The Close Of The Acquisition Of R/C Sugarkane, LLC, An Eagle Ford Shale Oil And Gas Company From Riverstone Holdings, LLC". PR Newswire. PR Newswire. 13 June 2014. Retrieved 9 July 2017.
  15. Joe Carroll and David White (14 March 2017). "Oil at $40 No Problem as U.S. Drillers Snub OPEC With Hedges". Bloomberg.com. Retrieved 27 June 2017.
  16. "Big Oil turns to big data to save big money on drilling". PR Newswire. PR Newswire. 23 June 2017. Retrieved 9 July 2017.
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