About Us
Headquartered in Denver with an office in Midland, Lithos Resources II holds approximately 16,000 net acres in the northern Midland Basin across Martin and Dawson Counties. Our contiguous position and high-quality assets support a disciplined, high-return development program focused on the Spraberry, Dean, and Wolfcamp intervals. Lithos also continues to pursue accretive acquisitions to expand and enhance our Midland Basin footprint.
Our Partner
Lithos has partnered with Kimmeridge Energy Management to support the establishment and growth of our Midland Basin position as well as other Permian Basin development. Kimmeridge, founded in 2012, is a leading energy-focused asset manager differentiated by its direct investment approach, deep technical knowledge, active portfolio management, proprietary research and data gathering capabilities.
Track Record
The Lithos management team has worked together in various combinations for nearly two decades, consistently creating value across multiple commodity cycles and U.S. onshore basins. Their track record began with founding Resolute Energy in 2004, growing it from a $50 million NGP-backed startup into an NYSE-listed company worth nearly $2 billion before its 2019 merger with Cimarex. Resolute operated across several key basins including the Paradox, Powder River, Bakken, and especially the Permian, where the team were early leaders in Delaware Basin horizontal development.
Following Resolute’s sale, the team formed Lithos Resources I in 2020 and subsequently combined with Legacy Reserves, rebranded as Revenir Energy. They transformed the business into a focused horizontal developer with core positions in the Permian and Haynesville, ultimately monetizing the assets in 2024 and returning capital to stakeholders.
Revenir Energy
In June 2024, Revenir Energy (formerly Legacy Reserves) completed its asset monetization strategy with the sale of its remaining Northern Midland Basin properties. Across more than 20 transactions, the company generated $1.2 billion in proceeds, returned $630 million to shareholders, and reduced liabilities by $700 million.
From late 2019 to mid-2024, the team reshaped Revenir into a focused unconventional operator in the Permian and East Texas Haynesville. They doubled the Haynesville position to 34,000 acres, growing production from 15 Mmcf/d to over 100 Mmcf/d before selling the asset in 2023, and built and sold more than 30,000 acres in the Permian while drilling 25 high-performing wells.
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Resolute Energy
In 2018, Resolute Energy Corp. agreed to be acquired by Cimarex Energy in a $1.6 billion cash-and-stock transaction, including the assumption of $710 million of debt. Resolute’s 21,100 net acres in Reeves County—89% HBP with an average 79% working interest—were considered an ideal bolt-on for Cimarex. At the time, the company averaged 34,752 boe/d of production.
From 2011 to 2017, the Resolute team assembled its 21,100-acre Reeves County position through targeted acquisitions supporting long-lateral development. By Q3 2018, production reached ~35 MBoepd, and year-end 2017 proved reserves totaled 53 MMBoe. Operating a three-rig horizontal program, the team advanced multi-zone pad development in the Delaware Basin, including three successful “9-Packs” drilled and completed in 2018.
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