About CrownRock
CrownRock is a company based in Midland (United States) founded in 2013, and was acquired by Oxy in December 2023. Provider of oil gas exploration, development services. CrownRock has raised $475 million across 3 funding rounds from investors including Oxy, Texas Capital Bank and Magnetar Capital. CrownRock offers products and services including Potatoes and Grain Marketing. Its legal entity is CrownRock, L.P.
Company details
CrownRock was founded in 2013 and is headquartered in Midland, United States. Operations are focused on the oil and gas sector, where exploration and development services are delivered. Activities encompass resource assessment, drilling support, and production enhancement within the Permian Basin region. The company maintains a presence through its domain, crownrocklp.com, supporting upstream energy initiatives across domestic markets.
- Headquarters Midland, United States
- Stage Acquired
- Website crownrocklp.com
- Acquired by Oxy (Dec 2023)
- Legal Name Crownrock, L.P.
Products & Services of CrownRock
CrownRock offers a comprehensive portfolio of products and services, including Potatoes and Grain Marketing.
Potatoes are farmed and sold for food and industrial purposes, with operations being conducted in designated areas.
Grain marketing is carried out to promote and distribute grains from various sources, supporting related agricultural activities.
Funding Insights of CrownRock
CrownRock has successfully raised a total of $475M across 3 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $185 million completed in May 2018. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $475M
- Total Rounds 3
- Last Round Debt – Conventional — $185M
- First Round $1B
(Oct 2017)
- Investors Count 3
All 3 funding rounds of CrownRock with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May 2018 | $185M | Debt – Conventional | – | – | |
| Jan 2018 | $475M | Series H | – | – | |
| Oct 2017 | $1B | Debt – Conventional | – | – | – |
4 investors in total: 4 institutional.
Investors in CrownRock
CrownRock has secured backing from 4 investors, including institutional and venture fund investors. Prominent investors backing the company include Oxy, Texas Capital Bank and Magnetar Capital.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Magnetar Capital is engaged in alternative asset management. | magnetar.com | Evanston, United States | ||
Institutional capital is provided to the global energy industry by EIG Partners. | 1982 | eigpartners.com | Washington, DC, United States | |
Texas Capital Bank is engaged in providing banking and financial services. | 1997 | texascapitalbank.com | Dallas, United States | |
Integrated petroleum services are provided worldwide by Oxy. | 1920 | oxy.com | Houston, United States |
Investor details for CrownRock
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Timeline of CrownRock
4 dated milestones of CrownRock across 10 years, from founding to its latest funding, stage changes and deals.
- Founded CrownRock is founded.
- Funding First funding round of $1.0B.
- Funding Latest funding round, Debt – Conventional, of $185.0M.
- Exit Acquired by Oxy.
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Frequently Asked Questions about CrownRock
CrownRock was founded in 2013 and raised its 1st funding round 4 years after it was founded.
CrownRock is headquartered in Midland, United States. It is registered at Midland, Texas, United States.
CrownRock is a funded company, having raised a total of $475M across 3 funding rounds to date. The company's 1st funding round was a Debt – Conventional of $1B, raised on Oct 2017.
CrownRock was founded in 2013 and is headquartered in Midland, United States. Operations are focused on the oil and gas sector, where exploration and development services are delivered. Activities encompass resource assessment, drilling support, and production enhancement within the Permian Basin region. The company maintains a presence through its domain, crownrocklp.com, supporting upstream energy initiatives across domestic markets.
CrownRock offers Potatoes and Grain Marketing.
CrownRock has 4 investors. Key investors include Oxy, Texas Capital Bank, Magnetar Capital, and EIG Partners.
CrownRock operates through Crownrock, L.P..
Yes. CrownRock was acquired by Oxy in December 2023.