• Sector: Energy Transition & Sustainability
  • Geography: United States
  • Stage: Growth
  • Investment Year: 1998
  • Exit Year: 2004

Encore Acquisition

In 1998, Encore Acquisition (Encore), located in Fort Worth, Texas was formed by Warburg Pincus, an experienced management team, and other investors in order to acquire and develop oil and gas properties in the onshore continental United States.  Encore's strategy was to purchase proven, long-lived, predictable reserves, in a depressed commodity price environment, where there was an opportunity to enhance performance through improved reservoir engineering, increased attention to operations, and low risk capital expenditures. Warburg Pincus played an integral role in Encore’s development, including working with the management team to establish the business plan, evaluate and analyze acquisition prospects side-by-side, provide access to capital, and enhance the company’s Board through the appointment of independent directors. Encore completed its IPO on the New York Stock Exchange in 2001. Warburg Pincus exited Encore through a series of distributions of shares from November 2003 to December 2004.

Website Case Studies Disclaimer

The investments described in the case studies are provided for illustrative purposes only and are not, and do not purport to be, representative of all investments, or all types of investments, previously made by Warburg Pincus, or indicative of the performance of all prior Warburg Pincus investments. The case studies have been selected on the basis of objective criteria that Warburg Pincus believes are representative of the firm’s experience partnering with portfolio company management teams, and of the sectors, stages, strategies and/or geographies in which the firm invests. The information provided in the case studies are not necessarily an indication of future results, and may not be relied up for any purpose. Warburg Pincus’ current or future portfolio companies may differ materially in size, type, performance and other characteristics from the investments presented in the case studies. Further, references in this case study should not be construed as a recommendation or offer to buy or sell any particular security or to make any particular investment.