May 6, 2025 10:01 AM Eastern Daylight Time
DALLAS–(BUSINESS WIRE)–IOG Resources, a leading provider of asset-level capital solutions and a strategic partner to the upstream oil & gas sector, today announced the formation of IOG Resources III Holdings, LLC (“IOGR III”).
Like its two predecessor vehicles, IOGR III was formed in partnership with private equity firm First Reserve and will focus on the acquisition of non-operated working interests and the formation of development joint ventures in all major North American onshore basins. IOG Resources targets investments ranging from approximately $50 to $200 million and has built a diversified portfolio of assets that represents over 20 mboe/d of net production as of May 2025.
“We are excited to continue our partnership with First Reserve, adding capacity and duration to our business with this third and already largest vehicle to date,” said Tommy Woolley, CEO and Board member of IOG Resources. “Grounded in a decade of experience navigating the commodity cycles and an evolving macro environment, we will continue providing flexible solutions for leading operators.”
Gibson Dunn & Crutcher LLP served as legal counsel in connection with the formation of IOGR III.
About IOG Resources
IOG Resources is a Texas-based energy investment platform formed in 2014 and sponsored by First Reserve since 2017. Together, IOG Resources and First Reserve are focused on investing in onshore producing non-operated oil & gas assets and structured drilling capital in North America. For more information, please visit www.iogresources.com.
About First Reserve
First Reserve is a leading private equity firm investing in Infrastructure Solutions, Value-Added Infrastructure and Resources strategies with exposure across energy, utility and industrial markets. Founded in 1983, First Reserve has more than 40 years of industry insight and has cultivated a differentiated network of relationships and portfolio exposure. Since inception, First Reserve has raised over $34 billion of aggregate capital and has developed operational expertise built from over 750 transactions, including platform investments and add-on acquisitions. For more information, please visit www.firstreserve.com.
Contacts
IOG Resources III, LLC; 214-272-2990