Institutional Exposure to Global Energy Value Chains
We underwrite upstream, midstream, and downstream opportunities with disciplined geology, operator, and commodity-risk assessments.
Understanding the Sector
Oil & Gas Investment at a Glance
Oil and gas investments involve financial participation in energy production and distribution across three main segments:
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1
Upstream
Equity or royalty stakes in exploration and production programs with cash flows tied to commodity prices and lifting costs.
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2
Midstream
Pipeline, storage, and processing assets that earn contract-based tariffs with lower commodity sensitivity.
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3
Downstream
Refining, petrochemical, and distribution assets monetizing spreads between feedstock and finished products.
The Investment Mechanism
How We Participate in Energy Markets
Upstream: Exploration & Production
Capital is deployed alongside experienced operators or via royalty interests. Returns are linked to volumes produced and realized pricing, net of lifting costs and hedging programs.
Structure: $50M drilling program with hedged pricing
Output: 5,000 barrels/day, decline-managed
Cash Flow: Investor share funded monthly after expenses
Objective: Double-digit IRR with commodity hedges
Midstream: Infrastructure & Transportation
Midstream assets earn fee-based revenue tied to throughput volumes and long-term contracts, offering infrastructure-like stability.
Investment: $120M pipeline, 20-year take-or-pay contracts
Net Yield: ~8% after O&M and upkeep
Inflation: Tariffs escalate with CPI or fuel indices
Outcome: Steady cash yield plus terminal value
Downstream: Refining & Distribution
Downstream investments monetize crack spreads, logistics efficiencies, and brand distribution while providing optionality on demand trends.
Capacity: 200,000 barrels/day with flexibility across products
Margin Drivers: Crack spreads, natural gas input costs, hedging
Investor Economics: Equity upside plus dividend distributions
Target: 15%+ IRR through cycles
Our Approach
Haven Capital Asset's Energy Playbook
Diversified Value Chain
Blend commodity-sensitive upstream exposure with fee-based infrastructure and downstream margin plays to smooth volatility.
Global Reach
Allocate to politically stable jurisdictions with favorable fiscal regimes while selectively pursuing emerging-basin upside.
Asset Quality & ESG
Prioritize proven reserves, top-quartile operators, emissions mitigation plans, and modern infrastructure to manage downside and reputational risk.