In an unusual alliance, a San Francisco private equity firm and France's leading petroleum research and development association have formed an exclusive arrangement to advise and fund turnaround candidates in the oil and gas industry in North America and Europe. They hope to play on consolidation trends and will focus on identifying companies that need consulting expertise and financial resources. The partners are Plantagenet Capital Management LLC, which specializes in buyouts, financial restructurings and industry consolidations, and the Institut Francais du Petrol (IFP) in Paris. Plantagenet has offices in Paris and Houston, as well as San Francisco. IFP is an independent center for research, education, training and information for the oil and gas and automotive industries worldwide. Its U.S. division, IFP Enterprises, is based in New York. "The energy industry is ripe for strategic investments in troubled companies that lack strong management and financial resources, but have strong assets," said C. Derek Anderson, senior managing partner of Plantagenet. "Working with IFP, a leading provider of consulting services to the global energy industry, we will endeavor to provide operational and capital insight not readily available elsewhere in a single package." For more information, contact John Zappettini of Plantagenet Capital at (415) 433-6536. -Leslie Haines
Recommended Reading
Enverus: 1Q Upstream Deals Hit $51B, but Consolidation is Slowing
2024-04-23 - Oil and gas dealmaking continued at a high clip in the first quarter, especially in the Permian Basin. But a thinning list of potential takeout targets, and an invigorated Federal Trade Commission, are chilling the red-hot M&A market.
Life on the Edge: Surge of Activity Ignites the Northern Midland Basin
2024-04-03 - Once a company with low outside expectations, Surge Energy is now a premier private producer in one of the world’s top shale plays.
Mighty Midland Still Beckons Dealmakers
2024-04-05 - The Midland Basin is the center of U.S. oil drilling activity. But only those with the biggest balance sheets can afford to buy in the basin's core, following a historic consolidation trend.
Uinta Basin's XCL Seeks FTC OK to Buy Altamont Energy
2024-03-07 - XCL Resources is seeking approval from the Federal Trade Commission to acquire fellow Utah producer Altamont Energy LLC.
Chevron CEO: Permian, D-J Basin Production Fuels US Output Growth
2024-04-29 - Chevron continues to prioritize Permian Basin investment for new production and is seeing D-J Basin growth after closing its $6.3 billion acquisition of PDC Energy last year, CEO Mike Wirth said.