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
Energy Sector Sees Dramatic Increase in Private Equity Funding
2024-11-21 - In a 10-day period, private equity firms announced almost $20 billion in energy funding. Is an end in sight for the fossil fuel capital drought?
Exclusive: How E&Ps Yearning Capital can Stand Out to Family Offices
2024-10-15 - 3P Energy Capital’s Founder and Managing Partner Christina Kitchens shares insight on the “educational process” of operators looking at opportunities in the U.S. and how E&Ps looking for capital can interest family offices, in this Hart Energy Exclusive interview.
Devon CEO Muncrief to Retire, COO Gaspar to Take Top Job in March
2024-12-09 - Devon Energy President and CEO Rick Muncrief, who has led Devon during past four years, will retire March 1. The board named COO Clay Gaspar as his successor.
Woodside Reports Record Q3 Production, Narrows Guidance for 2024
2024-10-17 - Australia’s Woodside Energy reported record production of 577,000 boe/d in the third quarter of 2024, an 18% increase due to the start of the Sangomar project offshore Senegal. The Aussie company has narrowed its production guidance for 2024 as a result.
E&P Consolidation Ripples Through Energy Finance Providers
2024-11-29 - Panel: The pool of financial companies catering to oil and gas companies has shrunk along with the number of E&Ps.
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.