Grey Rock Investment Partners agreed on May 16 to a $1.3 billion business combination with Executive Network Partnering Corp.(ENPC),a special purpose acquisition company(SPAC)backed by former U.S.House Speaker Paul Ryan.Based in Dallas,Grey Rock is a private equity firm with more than $525 million of committed capital under management and interests in more than 2,500 wells in core areas of the Permian's Midland and Delaware basins,as well as the Bakken,Eagle Ford,Denver-Julesburg and Haynesville plays."This transaction with Grey Rock reflects our philosophy and commitment to matching accomplished,proven executives and great assets,with the proper capital structure to maximize results and value creation,"commented Ryan,who serves as chairman of EN PC,in a joint release in May.In connection with this transaction,Grey Rock will contribute oil and gas assets currently held in its Fund I,Fund II and Fund III portfolios to form Granite Ridge Resources Inc.in exchange for equity.
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