Sources with billions of dollars in fresh private capital still seek energy opportunities. These fund managers love to invest at the lows, even if they remain highly selective. These private-equity providers and partners describe the new investment parameters and outlook for 2015.

  • Carl Tricoli, founder, managing partner and co-president, Denham Capital;
  • Doug Swanson, managing partner, EnCap Investments LP; and
  • Mark Warner, senior managing director, natural resources and emerging markets investments, The University of Texas Investment Management Co. (UTIMCO).