Fundare Resources Completes Final Divestiture and Concludes Five-Year Business Venture

Fundare said production from wells it drilled in both basins achieved twice the performance of wells drilled by previous operators.

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10/07/2026 - 11:27 AM

DENVER--(BUSINESS WIRE)-- Fundare Resources Company, LLC (“Fundare” or the “Company”) announced that it has completed the sale of its entire operated oil and gas business to Peoria Resources, LLC (“Peoria”), a subsidiary of JAPEX (U.S.) Corp. Through the transaction, Peoria acquired all of Fundare’s E&P assets in the Denver-Julesburg (“DJ”) Basin of Colorado and the Green River Basin of Wyoming. This divestiture follows the March 2025 sale of Fundare’s DJ Basin midstream operations (Moonrise Midstream) to Summit Midstream Corporation (NYSE: SMC).

Cody Truitt, President and CEO of Fundare, commented, “We are pleased to announce the closing of our final divestiture, marking the successful conclusion of the Fundare business. We are deeply grateful to our capital providers, including our equity partners managed by Woodward Diversified Capital, and to the Fundare Board for their support, counsel, and confidence over the last five years.”

“I would also like to thank the Fundare employees for their dedication, excellence, and commitment. We are proud of what this team accomplished together and profoundly grateful for each employee’s contribution.”

Since acquiring the Redtail field from Whiting five years ago, Fundare demonstrated the value of disciplined development, advanced completion technologies, and prudent, low-cost operatorship. Production from wells drilled by Fundare in the DJ Basin and Green River Basin achieved twice the performance of the wells drilled by previous operators.

“The previously announced divestiture of Moonrise Midstream concluded the successful transformation of midstream infrastructure that was producer owned and single party, into a platform serving multiple third-party operators in the DJ Basin. Although the midstream business was not a primary driver of our DJ Basin acquisition, it demonstrates how investing in talented people with a customer-focused approach and a clear strategy for growth can deliver exceptional returns to investors,” added Mr. Truitt.

Michael Starzer, Executive Chairman of Fundare, commented, “This transaction marks the successful conclusion of Fundare Resources’ five-year journey, delivers outstanding financial returns to its investors, and reinforces the management team’s record as a leading operator across multiple companies and basins. On behalf of the Board and our investors, I congratulate Cody and his team on this achievement. Cody’s leadership and commitment to a culture of integrity, teamwork, and transparency attracted exceptional industry talent and drove the Company’s successful results.”

Mr. Starzer added, “Fundare’s success reflects not only the strength of its management and employees, but also the expertise and oversight of our Board, including Anthony Bahr, Founder and President of WildHorse Resource Development Corporation (NYSE: WRD), WildHorse Resources II, and WildFire Energy; Beau Woodward, Founder and Partner at WDC; Charlie McNeil, Founder and CEO of NexGen Resources Corporation; and Gary Grove, an investor and executive with experience across multiple companies and basins. It has been an honor and a privilege to work with Cody and his team.”

About Fundare Resources Company, LLC:

Fundare Resources Company, LLC is a private oil and gas company pursuing low risk, yield driven, producing properties that maximize shareholder returns through the implementation of advanced completion technologies and prudent, low-cost operatorship. Fundare, Latin for “laying a foundation”, is built around the principle of establishing a foundation of assets managed with integrity, teamwork and transparency; proven values that have resulted in repeated success for its investors. The Company’s assets and operations are concentrated in the Denver-Julesburg (DJ) Basin of Colorado, and Green River Basin of Wyoming.

Further information can be found at www.fundareresources.com.