Private equity firm Pearl Energy Investments will back Eagle Mountain Energy Partners II, which last year exited its Williston Basin assets in a nearly $300 million deal with TXO Partners. (Source: Patrish Jackson/Shutterstock, Pearl Energy Investments)
Houston’s Eagle Mountain Energy Partners II (EMEP II) has secured an undisclosed equity commitment from Dallas-based private equity firm Pearl Energy Investments to pursue acquisition and development opportunities on familiar ground: the Williston Basin and the Rockies.
In September, the first iteration of the company sold its Williston assets in a cash-and-unit transaction to MLP TXO Partners LP for roughly $296 million. EMEP II was co-founded by CEO Eric Pregler, CFO Shaleen Patel, Engineering Vice President Michael Dekruif and Business Development Head Kyle Dubiel.
“We are excited to continue our strong relationship with Pearl and remain committed to responsible stewardship of both capital and operations,” Pregler said. “Now is an opportunistic time to invest in oil and gas assets, and our partnership with Pearl is critical to our success.”
Steven Cobb, a partner at Pearl, said the EMEP team has a “unique ability to create value in dynamic markets and across a diverse resource base.”
EMEP II was advised by O’Melveny & Myers LLP. Willkie, Farr & Gallagher LLP acted as legal counsel to Pearl.
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