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

Growth equity capital for operators

Learn more about partnering with BCE

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