IOG Capital

IOG Capital invests exclusively in non-operated working interests, meaning it funds a minority share of drilling and production costs alongside an established operator but does not manage day-to-day field activities. This structure avoids operational overhead while maintaining direct exposure to commodity prices and production volumes. Returns depend on the operator's execution and the underlying reservoir performance.

No. IOG Capital's mandate is concentrated entirely on onshore U.S. oil and gas basins. Public disclosures and fund documentation for IOG Resources I and II consistently reference assets in Texas, New Mexico, and Colorado. International energy exposure is not part of the stated strategy.

The firm's fund structures have drawn commitments from university endowments, charitable foundations, and public pension plans. These institutions are attracted by the current cash yield from producing assets, commodity price upside, and the inflation-hedging characteristics of real asset energy exposure.

IOG Capital serves as the investment manager that raises and oversees funds, while IOG Resources is the affiliated operating entity that sources, underwrites, and manages the non-operated working interests. The two entities share Dallas-based leadership and infrastructure, creating a vertically integrated platform for institutional energy investing.

IOG sources non-operated working interest opportunities through its network of relationships with established exploration and production operators. Rather than competing in broad auction processes, the firm targets bilateral negotiations with operators seeking minority capital partners to fund development programs. Specific operator relationships are rarely disclosed publicly.