What Advance Energy Partners does

Advance Energy Partners is a private, Houston-based exploration and production company founded in 2014 that targets low-risk leasing and drilling opportunities in unconventional oil and natural gas shale plays. The company's stated strategy emphasizes disciplined acreage acquisition and development drilling rather than higher-risk wildcat exploration, with operations spanning oil and natural gas production from unconventional resource plays.

The firm is sponsored by EnCap Investments, a private equity manager dedicated to the upstream oil and gas sector, which provides capital, deal flow, and underwriting discipline. Leadership is structured around a small executive team: Peter Lellis serves as President and CEO and Kevin Hays as CFO, consistent with the lean headcount profile of an EnCap-backed non-operated or small-operated platform.

The business model is conventional upstream E&P: acquire leasehold, develop multi-well pads in shale basins, and sell produced hydrocarbons to midstream gatherers and marketers under standard arm's-length agreements. The company does not disclose pricing, off-take contracts, or counterparty arrangements in the available materials. Source data also references broader unconventional shale operational and midstream partnership activity in materials associated with this company, suggesting potential participation in joint development or gathering arrangements, though specific Advance Energy Partners-level details are not provided. Note that the supplied firmographic and operational content overlaps materially with Matador Resources Company (MTDR), an unrelated public peer, which limits the precision of the description.

Name

Advance Energy Partners

Legal name

Matador Resources Company

Website

https://advanceenergypartners.com

Company type

Public

Founded year

1983

Operating status

Operating

Headcount range

11–50 employees

Short description

Advance Energy Partners is a private, Houston-based oil and natural gas exploration and production company founded in 2014 that targets low-risk leasing and drilling in unconventional shale plays, sponsored by EnCap Investments.

Ownership category

akta.pro rank

Product category

Oil and Gas Exploration and Production

NAICS

Natural Gas Extraction (21113), Crude Petroleum Extraction (21112), Crude Petroleum Extraction (211120), Oil and Gas Extraction (2111)

SIC

Crude Petroleum & Natural Gas (1311)

akta.pro primary industry

Unconventional Gas E&P (Shale/Tight Gas) (EUAAAAAC)

akta.pro secondary industry

Drilling & Well Construction (E&P Operator-led) (EUALAAAD)

Keywords

• Oil and gas exploration
• Natural gas production
• Shale drilling operations
• Upstream energy services
• Midstream gas processing

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Oil and Natural Gas Production: Revenue generated from the exploration, development, production and sale of oil and natural gas resources from unconventional shale plays in the Delaware Basin and Haynesville shale
2. Midstream Services: Revenue from natural gas processing, oil transportation services, natural gas, oil and produced water gathering services, and produced water disposal services provided to third parties through San Mateo joint venture

Distribution channels1 record

Marketing channels3 records

Core offering

Advance Energy Partners is an exploration and production company that focuses on low-risk leasing and drilling opportunities in unconventional oil and natural gas plays, primarily the Wolfcamp and Bone Spring formations in the Delaware Basin (Southeast New Mexico and West Texas) and the Haynesville shale in Northwest Louisiana. The company pairs upstream operations with integrated midstream services, including natural gas processing, oil transportation, gathering and produced water disposal delivered through the San Mateo joint venture.

Product overview

Matador Resources Company is an independent energy company operating as a single unified business focused on oil and natural gas exploration, development, production and acquisition. The company operates two integrated segments: (1) Upstream - oil and natural gas E&P focused on the Wolfcamp and Bone Spring plays in the Delaware Basin and Haynesville shale in Northwest Louisiana; and (2) Midstream - operated through its San Mateo joint venture, providing natural gas processing, oil transportation, gathering and produced water disposal services. The company has over 40 years of operating history.

Differentiator

Problem solved

Functional benefit

Products and services

• Oil and Natural Gas Exploration and Production Exploration, development, production and acquisition of oil and natural gas resources concentrated in the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin (Southeast New Mexico and West Texas) and the Haynesville shale and Cotton Valley plays in Northwest Louisiana. Targeted at third-party commodity buyers such as refineries, utilities and natural gas purchasers.
• Midstream Services

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• San MateocoreStrategic or Co-development Partner · 29 June 2026Midstream joint venture partner with Matador Resources. San Mateo owns and operates midstream assets including pipelines, saltwater disposal wells, and processing plants. Combined assets include over 900 miles of pipelines, 19 saltwater disposal wells, and 720 MMcf per day of natural gas processing capacity. San Mateo expansion announced June 2026 through acquisition of Cardinal Midstream.
• Cardinal MidstreamcoreStrategic or Co-development Partner · 29 June 2026Midstream company acquired by San Mateo (Matador's joint venture) in June 2026 to expand San Mateo's Delaware Basin footprint. Represents expansion of midstream infrastructure and capabilities.

Scale indicators4 records

Recent moves3 records

Expansion highlights3 records

Direct peers

• Earthstone Energy (acquired by BKV): Previously independent E&P focused on the Permian Basin (Delaware) and Eagle Ford. Acquired by BKV Corporation in 2024, providing historical context on exit multiples and consolidation trajectory for private operators like Advance Energy Partners.
• Northern Oil and Gas: Non-operated E&P focused on US shale basins including the Permian. Operates a similar leasing and drilling strategy in unconventional formations, providing a direct comparison point for Advance Energy Partners' non-op versus operated model.
• Granite Ridge Resources: Small-cap public E&P focused on the Permian Basin, Eagle Ford, and Haynesville. Provides a relevant comparable for what an Advance Energy Partners-type PE-backed private company looks like post-IPO and public market scaling.
• Mach Natural Resources: Private upstream E&P focused on the Anadarko Basin and Permian Basin. PE-backed by EnCap Investments, the same sponsor supporting Advance Energy Partners, making it a closely comparable operator in terms of strategy, scale, and capital base.
• Tap Rock Resources: Private Permian-focused E&P backed by PE sponsors (Quantum Energy Partners). Operates in similar unconventional shale formations using horizontal drilling and completions, comparable in scale and operational approach to Advance Energy Partners.
• Validus Energy: Private E&P backed by Ares Management focused on the Bakken and Three Forks formations. Comparable as a PE-backed, capital-disciplined operator pursuing leasing and drilling opportunities in US unconventional formations.
• Matador Resources Company: Independent energy company operating in the Wolfcamp, Bone Spring, and Haynesville plays with integrated midstream operations through the San Mateo JV. Operational footprint overlaps with Advance Energy Partners in core US shale basins, making it the most direct comparably.

Broad incumbents

• Crescent Energy: Public upstream E&P with diversified position across multiple US basins including the Eagle Ford, Permian, and Haynesville. Offers comparison for portfolio-scale approach and capital markets access for a company of Advance Energy Partners' profile.
• Permian Resources: Large independent E&P focused on the Delaware Basin and Central Basin Platform following the Centennial-Colgate merger. As a scaled Delaware Basin operator, it provides a relevant comparable for basin-specific competitive dynamics facing Advance Energy Partners.
• Civitas Resources: Large independent E&P focused on Permian (Delaware) and DJ Basin unconventional development. Provides a comparable for unconventional resource plays strategy and capital allocation discipline in a public-company setting.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/advance-energy-partners-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

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 Advance Energy Partners