Investments in upstream oil & gas Assets in the U.S.

Legacy pdp Investment Strategy

BCE pursues investments in upstream oil & gas assets in the continental United States.

We are control equity investors, and partner with experienced asset operating management teams to create value in the assets we acquire.
We seek to acquire cash-flowing assets at attractive entry valuations that effectively collateralize our investment.
We are basin agnostic – our focus is on finding the best low-risk return potential, and to establish an attractive imbedded investment yield at entry.

We pursue growth in our portfolio companies through measured reinvestment of asset cash flow in both “organic” asset development, and “inorganic” acquisition opportunities that complement existing assets.
We avoid extensive use of leverage in capitalizing our businesses, and opportunistically use hedging strategies to insulate business cash flow and de-risk projected returns.

NEW Investment Strategies

Along with our core PDP Operations strategy, BCE will opportunistically pursue differentiated investments across several new verticals, including 1) Structured Capital Opportunities, 2) Strategic E&P Asset Carve-Outs, and 3) Upstream Integration Projects.

Structured Capital Opportunities

Leverage BCE’s network to participate in syndicated, or sole-lead structured capital opportunities, including convertible or preferred equity offerings, and credit opportunities in non-core basins/positions.

Strategic E&P Asset Carve-Outs

Carve-out single-assets from legacy/stale PE portfolios.
Recapitalize/grow existing assets.
Participate in Drilling Joint-Ventures with proven operating teams.

Upstream Integration Projects

Vertically integrated infrastructure projects that tie-into our existing upstream portfolios.
Capitalize on regulatory tailwinds and the evolving energy landscape.

pdp Investment Criteria

Experienced management team with track record of operating success
Assets located onshore in the continental United States within basins with existing infrastructure
Assets are currently producing, have established producing histories, and positive field level cash flow
Assets are predominantly operated; non-operated interests can be pursued for follow-on acquisition
Commodity agnostic, but prefer a mix of oil, gas, & NGLs
PDP upside through operational enhancements and cost reductions
Inventory of low-risk and low-cost development opportunities including PDNP and PUD reserves
Control equity with customary minority protections for other investors, and competitive incentives for management teams

Our Portfolio

Cash flow generating, best-in-class operators

About Us

Dedicated Upstream Investors

Growth equity capital for operators

Learn more about partnering with BCE