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Lariat Petroleum Stage: Venture Date of Investment: 1997
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In 1997, Warburg Pincus provided the initial capital to launch Lariat
Petroleum behind its founder Randy Foutch. The initial strategy was to
exploit acquired properties and explore for new hydrocarbons in the
Anadarko Basin (primarily Oklahoma). Through a series of incremental
financings to fund exploration and to acquire other properties Warburg
Pincus has provided all of the external equity to finance the company.
Reserves are approximately 200 BcF reflecting success in all phases of
the company's strategy. In January 2001, Lariat was successfully merged
into Newfield Exploration Company.
