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Infrastructure  + Alternative Assets  + Real Assets  |  January 27, 2026
Pontem Energy Closes $250M Non-Op Upstream Fund 
Joe Palmisano
By: Joe Palmisano

Pontem Energy Closes $250M Non-Op Upstream Fund 

Pontem Energy Capital has reached the final close of its second vehicle, Pontem Energy NonOp Fund II, hitting its $250 million target approximately six months after the fund’s first close in July 2025. 

The fund will primarily invest in non-operated working interests across upstream oil, natural gas, and natural gas liquids assets throughout North America. Investments may include interests in producing properties as well as pre-drill opportunities.  

Houston-based Pontem said it is targeting non-operated acquisitions ranging from $10 million to $100 million, with the ability to pursue larger transactions alongside affiliated vehicles. 

Pontem’s non-operated strategy is supported by Alamo Resources, which brings more than 20 years of experience in acquiring and developing oil and gas assets. 

“We continue to see a lot of opportunities in the oil & gas sector, and we are grateful for the support from existing and new limited partners in the Pontem funds,” said Jeff Bartlett, managing partner of Pontem Energy Capital. 

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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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