Eagle Mountain Energy Partners LLC landed backing from a duo of capital providers to support its pursuit of “low-risk, long-lived” assets, the newly formed E&P company said in a Jan. 29 news release.
Pearl Energy Investments and Natural Gas Partners LLC (NGP) agreed to partner with Eagle Mountain to support the Houston-based company’s strategy to pursue acquisition and development opportunities focused primarily in the Williston Basin. The company is also considering assets in other select oil-weighted basins in the Rockies, according to its website.
In particular, Eagle Mountain is targeting low-risk, long-lived producing assets with development upside.
Commenting on the partnership, CEO Eric Pregler said: “We expect the current market to present attractive opportunities for [Eagle Mountain] to create value through acquiring and developing low-risk, long-lived assets.”
Eagle Mountain was founded by Pregler as well as CFO Shaleen Patel and Vice President of Engineering Michael DeKruif, who together have a track record of acquiring, developing and monetizing upstream assets in various U.S. onshore basins.
The management team has served in senior roles at Kayne Anderson Capital Advisors LP, Pioneer Natural Resources Co., Carrizo Oil & Gas Inc. and Oasis Petroleum Inc., according to the company release.
“Our team is ideally suited to generate superior returns in today’s cash flow focused environment,” Patel said in a statement. “We believe our experience, commitment to innovation and strong financial partnerships lay the foundation to build a successful business.”
Recommended Reading
Post Oak Backs New Permian Team, But PE Faces Uphill Fundraising Battle
2024-10-11 - As private equity begins the process of recycling inventory, likely to be divested from large-scale mergers, executives acknowledged that raising funds has become increasingly difficult.
Sheffield: E&Ps’ Capital Starvation Not All Bad, But M&A Needs Work
2024-10-04 - Bryan Sheffield, managing partner of Formentera Partners and founder of Parsley Energy, discussed E&P capital, M&A barriers and how longer laterals could spur a “growth mode” at Hart Energy’s Energy Capital Conference.
Analyst: Is Jerry Jones Making a Run to Take Comstock Private?
2024-09-20 - After buying more than 13.4 million Comstock shares in August, analysts wonder if Dallas Cowboys owner Jerry Jones might split the tackles and run downhill toward a go-private buyout of the Haynesville Shale gas producer.
BP Profit Falls On Weak Oil Prices, May Slow Share Buybacks
2024-10-30 - Despite a drop in profit due to weak oil prices, BP reported strong results from its U.S. shale segment and new momentum in the Gulf of Mexico.
Oxy’s Hollub Drills Down on CrownRock Deal, More M&A, Net-zero Oil
2024-11-01 - Vicki Hollub is leading Occidental Petroleum through the M&A wave while pioneering oil and gas in EOR and DAC towards the goal of net-zero oil.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.