Titan Rock Exploration & Production LLC said March 22 it received an equity commitment from a private investment firm. The amount of the investment wasn't disclosed.
The newly-formed E&P is focused on the acquisition and development of oil and natural gas assets in North America, with a primary focus on the Haynesville Shale of East Texas/North Louisiana and the Permian Basin, according to the release.
Titan Rock is based in Dallas and is led by Robert Martinez as president and CEO. Martinez has 20 years of experience developing and optimizing oil and gas assets throughout the U.S. and previously held leadership roles at XTO Energy Inc., EXCO Resources Inc. (NYSE: XCO) and Compass Production Partners LP, according to Titan Rock's website.
Jay Graham is back after the successful sale of WildHorse Resource Development to Chesapeake Energy with a new venture—this time in the Permian Basin.
Pin Oak Energy Partners tacked on nearly 10,000 net acres to its Utica Shale position in the Appalachian Basin as part of a recent acquisition from EnCap-backed Protégé Energy.
WPX Energy expected the Felix transaction—the largest E&P deal announced in the U.S. during the fourth quarter—to significantly boost its free cash flow, allowing the company to implement a dividend.