Waveland Venture Partners
Waveland Energy Partners is a private investment sponsor building pooled funds (WRP series) that acquire non-operated working and mineral interests in U.S. upstream oil and gas assets, serving accredited investors via the independent broker-dealer channel.
- Company typePrivate
- Founded2000
- HeadquartersIrvine, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Waveland Venture Partners does
Waveland Energy Partners is a private investment sponsor founded in 2000 that builds pooled private equity funds (the Waveland Resource Partners / WRP series) to acquire minority, non-operated working and mineral interests in U.S. upstream oil and gas assets operated by leading E&P companies such as Chevron, ConocoPhillips, Devon, Occidental, Continental Resources, Chord Energy, EOG Resources, Hess, Silver Hill Energy Partners, and Kraken Oil & Gas. The firm targets producing and development assets in the Bakken Shale (Williston Basin, North Dakota), the Permian Basin (West Texas and New Mexico), the San Juan Basin (New Mexico), and historically the Mid-Continent (Oklahoma), with a focus on tax-advantaged income and long-term capital appreciation for its accredited investors. Fund vehicles typically operate on 3–5 year realization cycles with quarterly cash distributions from operating production and exits through portfolio asset sales to institutional buyers.
The firm earns revenue through management fees and carried interest on committed and invested capital, with disclosed capital deployment including WRP VI (~$135M, closed August 2023), WRP VII (~$131.3M, launched September 2023 and closed August 2025), and WRP VIII (target up to $100M, launched September 2025). The minimum outside investment is $50,000 per investor. Waveland distributes securities exclusively through the wealth-advisor and independent broker-dealer channel via its affiliated FINRA/SIPC broker-dealer Waveland Capital Partners LLC, supplemented by external broker-dealers (Emerson Equity, KCD Financial, Lightpath Capital) and a regional sales team covering West, East, and Central United States. End customers are high-net-worth and accredited individual investors seeking non-correlated, tax-advantaged energy exposure without operational involvement.
Operationally, Waveland does not own proprietary technology platforms beyond an internal investor portal for subscriptions, K-1 delivery, and distribution payments; underwriting, drilling, completion, and production technologies reside with its operating partners. The corporate group comprises Waveland Capital Group LLC (the operating parent), Waveland Resources LLC (managing general partner of fund vehicles), and Waveland Capital Partners LLC (FINRA-registered broker-dealer). Headquartered in Irvine, California with 11–50 employees, the firm has sponsored or served as managing general partner for over 40 energy programs across its 25+ year history. In April 2025, co-founder Michael J. Greer passed away and co-founder Vickie J. Greer assumed the CEO role; the firm has continued to deploy capital, expand into the Permian Basin, and complete a $100M-class portfolio exit to NGP Energy Capital portfolio companies in January 2026.
Waveland Venture Partners firmographics
Firmographics- Name
- Waveland Venture Partners
- Legal name
- Waveland Capital Group LLC
- Website
- https://wavelandgroup.com
- Company type
- Private
- Founded year
- 2000
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Waveland Energy Partners is a private investment sponsor building pooled funds (WRP series) that acquire non-operated working and mineral interests in U.S. upstream oil and gas assets, serving accredited investors via the independent broker-dealer channel.
- Ownership category
- akta.pro rank
Waveland Venture Partners industry classification
Industry- Product category
- Oil and Gas Private Equity Funds
- NAICS
- Other Investment Pools and Funds (5259), Funds, Trusts, and Other Financial Vehicles (525)
- SIC
- Mineral Royalty Traders (6795), Oil Royalty Traders (6792)
- akta.pro primary industry
- Real Assets — Digital Infrastructure (Data Centers, Fiber, Towers) (FSAHAIAF)
Keywords
Where Waveland Venture Partners is headquartered
LocationHeadquarters
- HQ city
- Irvine
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Waveland Venture Partners business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Marketing or Sales, Operations, Infrastructure
Revenue model
- Private Fund Management & Capital Deployment: Waveland raises capital from accredited investors through pooled private fund vehicles (Waveland Resource Partners I–VIII) and earns returns through: (1) tax-advantaged cash distributions paid quarterly from operating income of producing oil and gas wells, (2) capital appreciation from reinvested cash flows and asset value growth, and (3) proceeds from portfolio asset sales at fund termination. Revenue is generated through management fees and carried interest on invested capital. No public revenue figure is disclosed.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Pay-as-you-go | WRP VIII – $50,000 minimum investment in pooled energy fund interests |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
Waveland Venture Partners product offering
Product offeringCore offering
Waveland sponsors and manages pooled private equity funds (Waveland Resource Partners VI, VII, VIII) that acquire minority equity working and mineral interests in producing U.S. oil and gas wells operated by leading E&P companies in the Bakken Shale, Permian Basin, San Juan Basin, and Mid-Continent region. Investors receive quarterly tax-advantaged cash distributions from operating well production and capital appreciation at fund termination through disciplined asset sales.
Differentiator
Problem solved
Functional benefit
Brands
- WRP (Waveland Resource Partners): Series of private equity funds (WRP VI, WRP VII, WRP VIII) offering minority equity interests in oil and gas working and mineral interests in the Bakken Shale, Permian Basin, and other premier U.S. energy basins.
Products and services
- Waveland Resource Partners VI (WRP VI) Pooled private equity fund focused on acquiring minority equity working and mineral interests in the core Bakken Shale of North Dakota; closed August 31, 2023 at approximately $135M, with ~$155M deployed in the second Bakken aggregation portfolio generating 49% total ROI with tax benefits and 12% annualized tax-advantaged distribution rate.
- Waveland Resource Partners VII (WRP VII) Total return income and growth fund aggregating a diversified portfolio of minority equity working and mineral interests in the Bakken Shale (North Dakota) and core of the Delaware and Midland Basins (Permian Basin, West Texas and New Mexico); $131.3M fund launched September 1, 2023, closed August 31, 2025; owns interests in 122+ wells producing 10% annualized quarterly distributions with 25% return and 47% ROI as of June 30, 2025.
- Waveland Resource Partners VIII (WRP VIII) Total return income and growth fund launched September 1, 2025 focused on the Bakken and Permian basins, offering pooled investment fund interests under SEC Rule 506(c) with a minimum outside investment of $50,000 and a target offering size of up to $100,000,000. Combines quarterly income from operating wells with long-term growth through portfolio aggregation of minority equity working and mineral interests.
Quantifiable outcome
- WRP VI generated 49% total ROI with tax benefits and 79% ROI for earliest investors, with an annualized tax-advantaged distribution rate of 12%
- +2 more outcomes
Companies that use Waveland Venture Partners
Customer profileNamed customers3 records
Segments2 records
Ideal customer profiles2 records
Waveland Venture Partners technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Waveland Venture Partners partnerships and signals
Strategic signalPartnerships
19 partnerships are on record, tiered core, major and secondary.
- Occidental PetroleumcoreOccidental Petroleum (NYSE: OXY, market cap ~$40B) is the operating partner for Waveland's inaugural Permian Basin acquisition – an 8-well project in West Texas. WRP VII and WRP VIII jointly acquired this project on November 24, 2025, with Oxy already drilling the project at the time of announcement.
- Wellspring Energy ResourcesmajorWellspring Energy Resources, a portfolio company of NGP Energy Capital, acquired Waveland's non-operated working interest assets in the core Williston Basin (North Dakota and Montana) as part of a sale transaction completed at end of 2025. The acquired assets were producing 1,480 boe/d. Financial terms were not disclosed. Stephens Inc. served as exclusive financial adviser to Waveland.
- Mesa Minerals PartnersmajorMesa Minerals Partners, a portfolio company of NGP Energy Capital, acquired Waveland's mineral interest assets as part of the same December 2025 Williston Basin transaction. Assets included liquids-weighted net production of 210 boe/d, 5,800 net royalty acres, and royalty interests in over 600 producing wells. Following the transaction, Mesa holds more than 13,000 net royalty acres in the Williston Basin.
- ChevroncoreChevron is one of the world's leading energy companies and serves as a key operating partner in Waveland's non-operated investment strategy. Waveland holds minority equity working and mineral interests in projects operated by Chevron in the core Bakken Shale (Williston Basin, North Dakota) and Permian Basin. Waveland's portfolio page lists Chevron as a primary strategic partner alongside other major E&P companies.
- ConocoPhillipscoreConocoPhillips is identified as a key operating partner in Waveland's portfolio across the Bakken Shale in North Dakota and Permian Basin. Waveland acquires minority equity interests in projects operated by ConocoPhillips as part of its non-op acquisition strategy.
- Devon EnergycoreDevon Energy is a leading independent oil and gas company operating in Waveland's target basins. Waveland holds interests in wells operated by Devon Energy, including those acquired as part of WRP VII's December 2025 acquisition announcement (4 additional wells in the Bakken Shale, North Dakota).
- Chord EnergycoreChord Energy (formed from the merger of Oasis and Whiting) is a key operating partner in Waveland's Bakken Shale and Williston Basin investment strategy. Waveland holds minority equity positions in projects operated by Chord Energy across its portfolio.
- Continental ResourcescoreContinental Resources is one of the largest crude oil producers in the United States and serves as a key operating partner in Waveland's Bakken Shale investment strategy. Continental operates several wells in Waveland's portfolio in the Williston Basin.
- Silver Hill Energy PartnerscoreSilver Hill Energy Partners is identified as a key operating partner in Waveland's Bakken and Permian Basin portfolios. WRP VII and WRP VIII include projects operated by Silver Hill Energy Partners as part of their diversified non-op acquisition strategy.
- EOG ResourcescoreEOG Resources is one of the largest independent oil and gas companies in the United States and operates multiple wells within Waveland's Bakken Shale portfolio in the Williston Basin. EOG is identified as a key operator partner on Waveland's portfolio page.
- ExxonMobil XTOcoreExxonMobil XTO operates assets within Waveland's Bakken Shale investment portfolio in the Williston Basin. The company is listed among the key operating partners on Waveland's projects page alongside Continental Resources, Whiting Petroleum, and Hess Corporation.
- Hess CorporationcoreHess Corporation operates wells within Waveland's Bakken Shale portfolio in the Williston Basin of North Dakota. Hess is listed among the key operating partners on Waveland's projects page alongside Continental Resources, ExxonMobil XTO, Whiting Petroleum, and EOG Resources.
- DJR EnergysecondaryDJR Energy is Waveland's Colorado-based operating partner for the San Juan Basin in northwestern New Mexico. DJR Energy holds the most prominent acreage position in the core of the Mancos oil window, with a footprint of over 350,000 net acres and an inventory of over 1,100 high-value drilling locations. Waveland entered the San Juan Basin with DJR in 2016.
- Three Peaks ResourcessecondaryThree Peaks Resources is Waveland's long-standing technical energy management team that co-initiated the Bakken Shale acquisition strategy alongside Waveland. Three Peaks brings technical expertise in geology, geophysics, and land management to support Waveland's non-op investment activities in the Williston Basin.
- Waveland Capital Partners LLCcoreWaveland Capital Partners LLC is the affiliated broker-dealer (FINRA/SIPC member) that distributes Waveland's private fund securities. Adam Dooley serves as President. The entity is an affiliate of Waveland Resources LLC, the managing general partner of all Waveland fund vehicles.
- Emerson Equity LLCsecondaryEmerson Equity LLC is one of multiple broker-dealers engaged to distribute Waveland Resource Partners VIII fund interests across several U.S. states, as listed in the SEC Form D filing for WRP VIII.
- KCD Financial Inc.secondaryKCD Financial Inc. is one of multiple broker-dealers engaged to distribute Waveland Resource Partners VIII fund interests across several U.S. states, as listed in the SEC Form D filing for WRP VIII.
- Lightpath Capital Inc.secondaryLightpath Capital Inc. is one of multiple broker-dealers engaged to distribute Waveland Resource Partners VIII fund interests across several U.S. states, as listed in the SEC Form D filing for WRP VIII.
- Kraken Oil & GassecondaryKraken Oil & Gas, a leading private equity-backed Bakken operator, is included as an operating partner in WRP VII's December 2025 acquisition of 4 additional projects (totaling 10 wells) in the core Bakken Shale, North Dakota. This represents Waveland's first transaction with Kraken.
Scale indicators7 records
Recent moves9 records
Expansion highlights6 records
Waveland Venture Partners competitors and assessment
Company assessmentBroad incumbents
- Kimbell Royalty Partners: Publicly traded (formerly NYSE: KRP) mineral and royalty acquisition partnership focused on US onshore basins. Direct comparable in the mineral/royalty acquisition model Waveland employs in the Bakken and Permian, though materially larger and publicly listed.
- Viper Energy Partners: NASDAQ-listed (VNOM) subsidiary of Diamondback Energy aggregating mineral and royalty interests in the Permian Basin. Comparable to Waveland's non-op mineral acquisition strategy, with much greater scale and public-market access.
- Black Stone Minerals: NYSE-listed (BSM) mineral owner and royalty interest aggregator across major US basins including the Bakken and Permian. Highly comparable to Waveland's strategy of acquiring diversified mineral and royalty positions for institutional capital.
- Sitio Royalties: NYSE-listed (STR) pure-play mineral and royalty company with significant Permian and Eagle Ford exposure formed through the mergers of Sitio Minerals and Falcon Minerals. Comparable non-op mineral aggregation model.
- Brigham Minerals: NYSE-listed (prior to Sitio merger) mineral rights acquisition company focused on the Permian, Bakken, and Eagle Ford. Directly comparable non-operated mineral interest aggregation strategy across the same basins as Waveland's WRP series.
Direct peers
- TXO Energy Partners: NYSE-listed (TXO) MLP focused on conventional and unconventional upstream oil and gas development with mineral and working interest exposure in the Bakken and other US basins. Closely aligned non-op strategy to Waveland's approach.
- Mesa Royalty Trust: OTC-listed trust holding royalty interests in oil and gas properties in the San Juan Basin and Hugoton Basin. Smaller-scale but directly comparable passive royalty exposure strategy through the San Juan Basin where Waveland is active with DJR Energy.
- ArciTerra Capital: Private investment sponsor focused on oil and gas private placements distributed through the broker-dealer channel, with prior leadership (William A. Rack Jr.) now at Waveland. Highly comparable private fund formation model targeting accredited investors for upstream oil and gas exposure.
Regional players
- Freehold Royalties: TSX-listed (FRU) Canadian royalty and mineral interests company with US operations across Texas, the Permian, and Bakken-equivalent plays. Comparable non-op mineral strategy, though headquartered and primarily capitalized in Canada.
Others
- NGP Energy Capital: Global private equity firm focused on energy and natural resources; serves as both an investor in E&P operators and an acquirer of mature mineral and royalty portfolios (Wellspring Energy Resources, Mesa Minerals Partners) — including acquiring Waveland's WB Holdings at 1.6x in December 2025. Not a direct competitor, but the institutional counterparty that defines Waveland's exit market.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Waveland Venture Partners social profiles
Digital presenceWaveland Venture Partners financial estimates
Financial estimateRevenue estimate
Valuation estimate
Waveland Venture Partners leadership team
Management profileNumber of profiles
Profiles12 records
Waveland Venture Partners subsidiaries and ownership
Company hierarchySubsidiaries2 records
Waveland Venture Partners funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Waveland Venture Partners M&A and investment
M&A and investmentM&A
Investments10 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Waveland Venture Partners
What does Waveland Venture Partners do?
Waveland sponsors and manages pooled private equity funds (Waveland Resource Partners VI, VII, VIII) that acquire minority equity working and mineral interests in producing U.S. oil and gas wells operated by leading E&P companies in the Bakken Shale, Permian Basin, San Juan Basin, and Mid-Continent region. Investors receive quarterly tax-advantaged cash distributions from operating well production and capital appreciation at fund termination through disciplined asset sales.
Is Waveland Venture Partners a public or private company?
Waveland Venture Partners is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Waveland Venture Partners founded?
Waveland Venture Partners was founded in 2000. It employs 11 to 50 people.
Where is Waveland Venture Partners based?
Waveland Venture Partners is headquartered in Irvine, United States, in the North America region.
How does Waveland Venture Partners make money?
One revenue line is on record: private Fund Management & Capital Deployment.
Who are Waveland Venture Partners's main competitors?
Broad incumbents on record are Kimbell Royalty Partners, Viper Energy Partners, Black Stone Minerals, Sitio Royalties and Brigham Minerals. Direct peers are TXO Energy Partners, Mesa Royalty Trust and ArciTerra Capital. Freehold Royalties is listed as a regional player. NGP Energy Capital is listed as an others.
Does Waveland Venture Partners have an API?
No public API is recorded for Waveland Venture Partners.
What industry is Waveland Venture Partners in?
Waveland Venture Partners's product category is Oil and Gas Private Equity Funds. Its primary akta.pro industry code is FSAHAIAF, Real Assets — Digital Infrastructure (Data Centers, Fiber, Towers). Its NAICS code is 5259 and its SIC code is 6795.