Novo Oil and Gas was formed in 2016 with an initial capital commitment from EnCap Investments L.P., the nation’s leading provider of value-added growth capital. Our founders developed a strong relationship with EnCap while working at PayRock Energy as members of the PayRock management team through the company’s successful sale in 2016 to Marathon Oil Corporation. We are humbled and proud that EnCap chose to support Novo.
Since 1988, EnCap has raised 22 institutional funds totaling more than $38 billion and currently manages capital on behalf of more than 350 domestic and international investors. EnCap has consistently generated superior returns across multiple industry and hydrocarbon price cycles by applying a disciplined philosophy that balances capital preservation and value creation.