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  <schemaVersion>X0202</schemaVersion>
  <headerData>
    <submissionType>13F-HR</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <flags/>
      <filer>
        <credentials>
          <cik>0001290910</cik>
          <ccc>XXXXXXXX</ccc>
        </credentials>
      </filer>
      <periodOfReport>03-31-2026</periodOfReport>
    </filerInfo>
  </headerData>
  <formData>
    <coverPage>
      <reportCalendarOrQuarter>03-31-2026</reportCalendarOrQuarter>
      <isAmendment>false</isAmendment>
      <filingManager>
        <name>EnCap Investments L.P.</name>
        <address>
          <ns1:street1>9651 Katy Fwy</ns1:street1>
          <ns1:street2>Suite 600</ns1:street2>
          <ns1:city>Houston</ns1:city>
          <ns1:stateOrCountry>TX</ns1:stateOrCountry>
          <ns1:zipCode>77024</ns1:zipCode>
        </address>
      </filingManager>
      <reportType>13F HOLDINGS REPORT</reportType>
      <form13FFileNumber>028-26958</form13FFileNumber>
      <provideInfoForInstruction5>Y</provideInfoForInstruction5>
      <additionalInformation>This report reflects the Section 13(f) securities that are required to be reported pursuant to Section 13(f) of the Securities Act and Rule 13f-1 thereunder over which EnCap Investments, L.P. exercises investment discretion. Positions previously reported by the related fund-level filers are included herein. The former fund-level filers include EnCap Partners GP, LLC; EnCap Energy Capital Fund VIII, L.P.; EnCap Energy Capital Fund IX, L.P.; EnCap Energy Capital Fund X, L.P.; EnCap Energy Capital Fund XI, L.P.; and EnCap Energy Capital Fund XII, L.P. </additionalInformation>
    </coverPage>
    <signatureBlock>
      <name>Douglas E. Swanson, Jr.</name>
      <title>Managing Partner</title>
      <phone>713.659.6100</phone>
      <signature>/s/ Douglas E. Swanson, Jr.</signature>
      <city>Houston</city>
      <stateOrCountry>TX</stateOrCountry>
      <signatureDate>05-14-2026</signatureDate>
    </signatureBlock>
    <summaryPage>
      <otherIncludedManagersCount>0</otherIncludedManagersCount>
      <tableEntryTotal>4</tableEntryTotal>
      <tableValueTotal>904765157</tableValueTotal>
      <isConfidentialOmitted>false</isConfidentialOmitted>
    </summaryPage>
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