What Tap rock resources does

Tap Rock Resources, LLC is a private oil and gas exploration and production company headquartered in Golden, Colorado, founded in 2016 with capital from NGP (Natural Gas Partners), an energy-focused private equity firm with $20 billion of cumulative equity commitments. The company develops multi-horizon unconventional oil and gas assets in the Delaware Basin of the Permian Basin, producing from twelve major formations including the Avalon (Upper, Middle, Lower), 1st through 3rd Bone Spring Sand and Carb, and Wolfcamp A XY Sand, Wolfcamp A Lower, Wolfcamp B, Wolfcamp C, and Wolfcamp D horizons, primarily across Eddy and Lea Counties in New Mexico and Loving County in Texas.

The company employs horizontal drilling and hydraulic fracturing across stacked pay zones and is structured into discrete projects — Tap Rock I (which includes an Olympus development area and the company's main Delaware Basin position of more than 25,000 net acres), Tap Rock II (over 10,000 net acres, divested to Civitas Resources in 2023), and Tap Rock III (approximately 8,000 net acres in Eddy County, NM, currently in acquisition and development phase). At its 2022 peak, the company operated a seven-rig drilling program and produced 100,000+ BOEPD across more than 35,000 net acres.

Tap Rock monetizes its production through sales to midstream processors, pipelines, and refiners at prevailing market prices for crude oil, natural gas, and natural gas liquids. The company has historically followed a build-and-monetize model: aggregate leasehold via NGP-backed acquisitions, develop with multi-rig programs, then divest to larger operators. The 2023 transaction with Civitas Resources marked the company's largest such monetization, contributing to roughly $2.7 billion in cumulative asset sales executed under the leadership of CIO Ryan Springmeyer. Following the divestiture, the company re-engaged NGP for a subsequent ~$1.2B commitment to launch Tap Rock III and is currently rebuilding its Delaware Basin footprint under a restructured leadership team led by CEO Paul Weddle (appointed September 2024). The company employs 11–50 people and operates subsidiaries including Tap Rock Operating, LLC.

Name

Tap rock resources

Legal name

Tap Rock Resources, LLC

Website

https://taprk.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Tap Rock Resources is a private, NGP-backed oil and gas exploration and production company that develops multi-horizon unconventional assets in the Delaware Basin, producing crude oil, natural gas, and NGLs from stacked formations across New Mexico and Texas.

Ownership category

akta.pro rank

Product category

Upstream Oil and Gas Exploration and Production

NAICS

Oil and Gas Extraction (2111)

SIC

Crude Petroleum & Natural Gas (1311)

akta.pro primary industry

Unconventional Resources Development (Shale/Tight, CBM) (EUALAAAH)

Keywords

• Oil and gas exploration
• Upstream oil production
• Horizontal drilling services
• Hydraulic fracturing operations
• Delaware Basin development

Headquarters

HQ city

Golden

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Infrastructure, Technology or R&D

Revenue model

1. Oil and Gas Production Sales: Tap Rock Resources generates revenue through the sale of produced oil, natural gas, and natural gas liquids extracted from its Delaware Basin acreage. Revenue is commodity price-dependent and fluctuates with market conditions for crude oil and natural gas.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Tap Rock Resources is a private oil and gas exploration and production company that acquires leasehold acreage and develops oil, natural gas, and natural gas liquids in the Delaware Basin of the Permian Basin. The company deploys horizontal drilling and hydraulic fracturing across multiple geological horizons including the Avalon, Bone Spring, and Wolfcamp formations. Production is sold to midstream processors, pipeline companies, and refiners under bilateral contracts.

Product overview

Tap Rock Resources operates as an oil and gas exploration and production company focused on the Delaware Basin within the greater Permian Basin. The company manages a portfolio of assets under distinct project names: Tap Rock I (which includes the Olympus development area and the original Delaware Basin assets producing from twelve major geological horizons), Tap Rock II (divested to Civitas Resources in 2023), and Tap Rock III (the current active acquisition phase). The company was founded in 2016 with backing from NGP and has grown to over 100,000 BOEPD peak production before the divestiture.

Differentiator

Problem solved

Functional benefit

Products and services

• Tap Rock I - Delaware Basin Oil and Gas Asset
• Tap Rock I - Olympus Development

Quantifiable outcome

• Grew from initial investment in 2016 to over 35,000 net acres and 100,000 BOEPD production by 2022
• +2 more outcomes

Named customers2 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators12 records

Recent moves7 records

Expansion highlights4 records

Market position

Strengths4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/tap-rock-resources

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tap rock resources