Falcon E&P Opportunities GP, LLC (“Falcon”), a company specializing in direct onshore oil and gas investments, today announced that its Falcon E&P Opportunities, Fund, L.P. had a final close with $163.2 million in capital commitments. Falcon is a joint venture between PetroCap and HCMS Falcon, L.P., an affiliate of Highland Capital Management, L.P. (“Highland”).

The Falcon E&P Opportunities Fund, L.P. has a unique investment strategy designed to generate both current income and long-term capital appreciation by making direct investments in onshore oil and gas assets. The fund has already returned approximately 10% of current capital calls through quarterly distributions to their investors and has so far committed over $60 million in acquiring oil and gas properties in Texas, Kansas, and Wyoming.

“We are bullish on gas and oil long term, as the supply and demand fundamentals are skewed to the upside,” said Doug Evans, Managing Director for Falcon and a Principal at PetroCap. “However, we have an active hedge program in place to provide downside protection.”

“We continue to see attractive opportunities to partner with independent operators to grow their current projects or make acquisitions,” said Lane Britain, Managing Director for Falcon and Partner at Highland.