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
Chevron Upgrades Refinery to Expand Light Crude Processing Capacity
2024-12-11 - The retrofit of Chevron’s Pasadena facility increases equity Permian crude processing capacity by 15%.
LNG, Crude Markets and Tariffs Muddy Analysts’ 2025 Outlooks
2024-12-12 - Energy demand is forecast to grow as data centers gobble up more electricity and LNG liquefaction capacity comes online in North America, but gasoline demand may peak by 2025, analysts say.
US Crude Stocks Fell Last Week as Exports Jumped, EIA Says
2024-12-18 - Crude inventories fell by 934,000 bbl to 421 MMbbl in the week, the EIA said, compared with analysts' expectations in a Reuters poll for a 1.6-MMbbl-draw.
US Crude Stocks Rise, Gasoline and Distillate Inventories Fall, EIA Says
2024-11-14 - U.S. crude stocks rose while gasoline and distillate inventories fell in the week ending Nov. 8.
Oil Prices Rise as OPEC+ Considers Delaying December Output Increase
2024-10-30 - Oil prices rose more than 2% on Oct. 30 after Reuters reported that OPEC+ could delay a planned oil production increase in December by a month or more because of concern over soft oil demand and rising supply.
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.