EnCap Investments-backed XCL Resources completed the acquisition of Altamont Energy.

EnCap Investments-backed XCL Resources, oil and gas company focused on the identification, acquisition and development of horizontal resource plays, completed the acquisition of Altamont Energy, a company intended to acquire and operate oil and gas properties. Financial terms were not disclosed. XCL is a Houston-based independent oil and gas company focused on the identification, acquisition, and development of horizontal resource plays in the Lower 48. The company’s current operations are focused in the Uinta Basin. XCL’s partnership with EnCap began in 2018, with EnCap providing the majority of the financial backing for all of XCL’s investments to date.