Hydrocarb Energy Corp. engaged an investment banking firm, which it did not name, to help refinance its senior and short-term debts and identify capital sources for Galveston Bay, Texas, infrastructure and reserves development, the company said Jan. 20.
The bank, established in 2001, is based in New York.
K. Andrew Lai, Hydrocarb’s new CFO, said that the investment bank is experienced and resourceful, and that the principals understand the industry’s current challenges and opportunities.
Kent P. Watts, chairman, added that Hydrocarb wants to enhance its current assets and leverage its P5 operator status in Texas. Watts also said that Hydrocarb interviewed several investment banks before making a choice.
Hydrocarb Energy Corp. is based in Houston.
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