Warburg Pincus funds former Exxon geologist with Permian insight

By Luke Geiver | February 06, 2018

An Exxon-trained geologist that led a Permian-based exploration and production firm that was sold in June 2017 to Marathon Oil for $1.1 billion has been tapped to lead a newly formed E&P. Scott Germann, the new CEO of Ridge Runner Resources LLC will help the company create a presence in the Delaware Basin. Warburg Pincus, a private equity firm with several energy-related investments in its global portfolio, has provided Ridge Runner with $300 million in funding.

“We look forward to partnering with other operators in the region to accelerate our strategy and build a meaningful acreage position,” said Germann. Previously, Germann served as President of BC Operating, a Delaware Basin E&P sold to Marathon Oil.

David Habachy, managing director of Warburg Pincus’ Permian focus, said Germann and his team have extensive knowledge of the Permian along with “important relationships with the legacy players in the region.”

In November last year, Warburg Pincus opened a Houston office after previously operating out of New York city to maintain a strong presence with a large group of portfolio firms.

Warburg Pincus’ current Texas-based energy portfolio companies include Apex International Energy, Chisholm Energy Holdings, Independence Resources Management, Kosmos Energy, Navitas Midstream Partners, Rubicon Oilfield International, Terra Energy Partners, Venari Resources, and Zenith Energy. Other notable current and former investments in the energy portfolio include Antero Resources, Brigham Resources, Bill Barrett Corporation, Delonex Energy, Hawkwood Energy, Laredo Petroleum, Osum Oil Sands, RS Energy Group and Targa Resources.