ERTH Petra is the group’s upstream oil and gas arm. It grew up as a family of sixty named funds. It is now converting them into eight evergreen vehicles, one for each part of the business, with the original funds kept as named series inside them.
Eight lines, eight vehicles
- Unconventional: shale and tight-rock development.
- Conventional & offshore: conventional fields and offshore production.
- Enhanced recovery: more barrels from fields already found.
- Mature & distressed: late-life and distressed assets bought right.
- Royalties & minerals: oil and gas minerals and royalties.
- Midstream & integrated gas: gathering, processing and gas-to-power.
- Specialty gas: helium and other specialty gases.
- International: selected basins outside the United States.
Why evergreen
Oil and gas assets do not run on a fund’s calendar. A field can produce for decades, and the right moment to sell rarely matches a fixed fund term. An evergreen vehicle has no set end date, so it can hold an asset for as long as it makes sense and reinvest through the cycle.
“A field can produce for decades. The vehicle should be able to hold it that long.”
ERTH Petra
The backdrop
The U.S. Energy Information Administration reports that U.S. crude oil production reached a record 13.2 million barrels per day in 2024, 2% more than the previous record set in 2023, and that almost all of the growth came from the Permian region in New Mexico and Texas.
Where the conversion stands
The conversion is in progress, and every vehicle is shown on the ERTH Petra page as in conversion. Interests in any vehicle are offered only through its own documents. Metals royalties stay with ERTH Ferra, and any power contract with ERTH Rora or ERTH Volta is priced at arm’s length.
Sources
- U.S. Energy Information Administration, “In 2024, the United States produced more energy than ever before,” Today in Energy (June 9, 2025). www.eia.gov
This note is for information only. It is not an offer to sell or a solicitation of an offer to buy any interest in any fund. Interests are offered only through each vehicle’s own documents.