MIDLAND, Texas–(BUSINESS WIRE)–Dragonfly Oil & Gas Partners, LLC (“Dragonfly”), a newly formed upstream oil and natural gas exploration and production company, is pleased to announce its formation as of June 2025 with equity commitments from funds managed by Pearl Energy Investments (“Pearl”).
Co-founded by Steven Mickey, John Fechtel, and David DaGian, Dragonfly is actively evaluating acquisition and development prospects in the Permian, MidCon, and South Texas. Dragonfly aims to generate attractive risk-adjusted returns with a focus on creating operated oil inventory through a variety of approaches that include optimizing producing assets and both development and delineation drilling.
“Dragonflies see the world differently – they have five eyes with thousands of individual lenses that combine to provide unparalleled situational awareness. We believe that maximizing value for our partners in an increasingly competitive landscape requires just such a perspective and that our agile, data-driven approach will provide a similarly differentiated advantage,” said John Fechtel, Co-CEO of Dragonfly.
“Pearl is excited to continue our long-standing relationships with Steven, John, and David by partnering with Dragonfly. We believe that this is a compelling time in energy markets and the Dragonfly team is uniquely positioned to pursue a diverse opportunity set given their exceptional track record of value creation,” added Kevin Manuel Pohler, Partner of Pearl.
Advisors
Bracewell LLP served as legal advisor to Dragonfly and Willkie Farr & Gallagher LLP served as legal advisor to Pearl in connection with the formation of Dragonfly.
About Dragonfly
Dragonfly is an upstream oil and natural gas exploration and production company focused on creating operated oil inventory in the Permian, MidCon, and South Texas. For additional information, please visit www.dragonfly-ogp.com.
About Pearl Energy Investments
Pearl Energy Investments is a Dallas, Texas-based investment firm with approximately $3.0 billion of cumulative capital commitments. Pearl focuses on partnering with proven management teams to invest in the North American energy sector. The firm typically targets opportunities requiring $50 million to $150 million of equity capital. For additional information, please visit www.pearl-energy.com.
Contacts
Steven Mickey, Co-CEO
