Grenadier Energy Partners I was formed by Patrick J. Noyes in April 2007 partnering up with EnCap Investments, LP, and Kayne Anderson Capital Advisors who together with management committed to fund Grenadier with $100 million of initial capital.
After two years of searching for the right play, we formed a strategic partnership with a local shallow gas producer in Wetzel County, WV in April 2009. We then pursued a lease and drill strategy for the gas rich Marcellus Shale in that emerging play. Grenadier built up that acreage position, drilled 10 wells, and sold its Appalachian Basin position to the Norwegian national company Statoil USA Onshore Properties Inc. in December 2012.
Grenadier continued its partnership with EnCap Investments and Kayne Anderson on July 30, 2012 forming Grenadier Energy Partners II with a funding commitment with EnCap, Kayne Anderson and management of $340 million. These funds were earmarked for new ventures with an emphasis of “liquids rich” assets. That goal was met in November 2016 when Grenadier signed a development agreement with a large independent in Howard County in the Midland Basin. That original acreage position has been expanded to over 20,000 net acres as of June 2019 and is currently being drilled with a one rig program.