We are dedicated. ERP is a private equity real estate investment firm with a dedicated purpose: to only invest in properties where energy plays a significant role in the economic viability of each community. Our efforts have resulted in solid returns for investors and strong economic assets for the tenants we serve. Our portfolio includes office, industrial, hotel and self-storage. ERP is focused primarily on real estate in the Permian Basin as it produces more oil per day, both in quantity and marginal profitability, than any other basin in the United States.
We are the largest. With 2.0 million square feet of property, serving hundreds of tenants, ERP is the largest real estate owner and operator in the Permian Basin.
We are local. ERP was founded and is proudly headquartered in Midland, Texas. As committing to live in Midland is a precondition to working at the firm, our strategy has drawn diverse and talented individuals from all over the world, including, but not limited to Dubai, London, Mexico City and New York. We are engineers, hoteliers, designers, investment bankers, accountants and, most importantly, tenants in our own buildings.
We operate. ERP employs a wide range of in-house engineering, leasing, administrative, accounting and marketing talent, through a bottoms-up strategy of transformation, to make its properties stronger. No matter the background, training or education, everyone at our company is a “street fighter.” Our deals perform.
We help our tenants win. ERP’s success depends entirely on the success of its tenants. Whether it is facilitating introductions amongst its existing base of more than 600 companies, institutional investors, or simply supporting an individual through a personal hardship, if you are in one of our buildings we will fight for you, and we fight to win.
History of Permian Basin/Midland
Known locally as The Tall City, Midland has a rich history particularly in regards to its prominence in the energy sector. The city was originally settled in 1881 thanks to its strategic geographic location between Fort Worth and El Paso. Midland’s primary industry during its early days was cattle shipping however once oil was discovered in the Permian Basin in 1923, the economy quickly shifted to being focused on energy.
Throughout the 20th century, Midland’s importance as a key energy market increased as new exploration throughout the Permian Basin led to the region becoming the largest oil producer in the United States. With the advent of hydraulic fracturing, also known as fracking, becoming more widespread in the first decade of the 21st century, the Permian Basin experienced an incredible increase in drilling activity. By early 2016, the region produced over 2 million barrels per day which accounts for more than 20% of US oil production.