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Ares-backed Development Capital Resources agreed to partner with an unnamed private operator to fund development of the Permian’s Wolfcamp Shale.
Toby Rice was also named president and CEO of EQT, succeeding the shale gas giant’s former top exec Robert McNally.
Callon Petroleum, currently a Permian Basin pure-play, will gain core oil-weighted positions in both the Permian and Eagle Ford Shale through its combination with Carrizo Oil & Gas.