Private equity giant Och-Ziff is backing startup TNM Resources to pursue acquisitions in the red-hot Permian basin.
Houston-based TNM, in partnership with Fortuna Management, is led by chief executive Aaron Davis, who previously worked with Och-Ziff to acquire acreage on the Delaware side of the Permian basin.
Fortuna sold around 4500 net acres in Ward County, Texas on the Delaware side of the Permian basin to PDC Energy for $118 million earlier this year.
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