Funding round
X2 Resources Growth
Reported as "Growth Equity"
X2 Resources, which works in upstream oil and gas development in Houston, raised $500M in a Growth round announced on 24 Apr 2025. 3 firms took part, 1 of them already investors.
$500M
Amount raised
Not disclosed
Post-money valuation
3
Investors
no lead named
Valuation
What this round says about the price
X2 Resources did not disclose a valuation in this round. No later venture round is on record for X2 Resources.
X2 Resources' funding rounds
This is the only venture round on record for X2 Resources.
- Growth this round 24 Apr 2025 $500M
Investors
Who put money in
3 firms took part; no lead investor was named.
Investors
- backs 2 venture-backed companies existing investor
- new investor
- backs 6 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to acquisitions.
- Acquisitions
Comparable rounds
How it compares
7 Growth rounds in Oil & Gas - Extraction & Distribution within a year either side disclosed an amount; the median was $200M, and this round was 2.5 times the median. The closest in time, other companies' Growth rounds in Oil & Gas - Extraction & Distribution:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Oil & Gas - Extraction & Distribution | 9 May 2025 | $200M | not disclosed | NGP Energy Capital |
| Yinson Oil & Gas - Extraction & Distribution | 17 Jun 2025 | $1.00B | $3.70B | not named |
| Oil & Gas - Extraction & Distribution | 15 Jun 2025 | $286M | not disclosed | not named |
| Yinson Production Oil & Gas - Extraction & Distribution | 14 Jan 2025 | $1.00B | $3.70B | not named |
| Oil & Gas - Extraction & Distribution | 23 Sep 2025 | $105M | not disclosed | Orion Infrastructure Capital |
| Oil & Gas - Extraction & Distribution | 5 Nov 2024 | undisclosed | not disclosed | Bruce Ross |
| Oil & Gas - Extraction & Distribution | 12 Mar 2026 | $44M | not disclosed | TomEnterprise |
| Oil & Gas - Extraction & Distribution | 10 Apr 2024 | $40M | not disclosed | not named |
Sources
Where this comes from
Reported by 5 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did X2 Resources raise in its Growth round?
X2 Resources raised $500M in its Growth round, announced in Apr 2025.
Which investors took part in X2 Resources' Growth round?
EnCap Investments, Westlawn and Rice Investment Group.
What was X2 Resources' valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Oil & Gas - Extraction & Distribution?
7 Growth rounds in Oil & Gas - Extraction & Distribution within a year either side disclosed an amount; the median was $200M, and this round was 2.5 times the median.