Langdon Project WRP I was Waveland's first diversified institutional private equity fund, overseeing six acquisitions. The primary project was Langdon, a 135,000-acre site in south central Kansas within the Mississippian horizontal oil play. Waveland and its sub-manager, Orca Resources, secured key acreage leases early in the process. Instead of developing the site with pilot wells, Waveland chose to market Langdon, which ultimately resulted in its acquisition by Royal Dutch Shell in early 2012. Additionally, WRP I successfully exited two other projects, delivering a total pre-tax cash-on-cash return of 271% to investors.