Investment firm Peak 10 Energy Holdings LP made its inaugural acquisition of assets in the Permian Basin’s Eastern Shelf, expanding its position as it snaps up and works with operators to develop Lower 48 oil and natural gas assets.

The private equity (PE)-backed company made its inaugural purchase of acreage in Fisher and Scurry counties, TX. The properties included associated water handling and recycling assets. No financial details were disclosed. 

“The formation of Peak 10 and the closing of the Eastern Shelf transaction represent transformational moments in our ability to create scale by consolidating dislocated oil and gas assets,” said CEO Mark Paull. 

The Houston-based firm is aiming to manage assets, expand its footprint and assist in private company...