Newly formed ATX Energy Partners, a successor to Brigham Resources, has secured up to $780 million from a trio of private equity lenders to pursue unconventional resources in the Permian and Williston basins.

The line of equity is being supplied by Warburg Pincus alongside Yorktown Partners and Pine Brook.

The Austin, TX-based explorer is led by CEO Gene Shepherd, former chief at Brigham Resources, which sold its Permian Delaware assets earlier this year to Diamondback Energy Inc. for $2.6 billion. Shepherd also was CFO at predecessor Brigham Exploration from June 2002 until it was bought out for $4.4 billion by Statoil ASA in December 2011.

“Since closing on the sale to Diamondback earlier this year, we have been actively evaluating new opportunities and are excited to formally begin a new chapter together as ATX Energy Partners,” said Shepherd.

Veterans from each of the predecessor companies, Brigham Resources and Brigham Exploration are joining ATX, including COO Erik Hoover, CFO J Silva, Executive Vice President (EVP) Ed Parma handling exploration and EVP Matt Weber, chief of engineering.

“The fact that ATX will benefit from the same leadership team and partnership with the same financial sponsors that facilitated our early entry into the Southern Delaware Basin in 2013 dramatically enhances our probability for success,” Shepherd said.

ATX, he said, plans to leverage its experience to “identify, delineate and develop unconventional resource opportunities in some new, as well as some familiar but overlooked, basins in the Lower 48.”