Torrent Oil & Gas LLC said Feb. 4 it has secured a private equity financing commitment and partnership with Natural Gas Partners (NGP).
Founded in 2015, Houston-based Torrent focuses on acquiring and redeveloping oil and gas assets within the Gulf Coast, East Texas and Ark-La-Tex Basins.
“In our view, this market presents unique opportunities to find and generate great value from underutilized assets," said Greg Wachel, CEO and president of Torrent, in a statement.
Torrent is led by Hilcorp Energy Co. veterans Wachel and Henri deLaunay, as executive vice president. The two have a combined 30 years of experience in the acquisition and management of oil and gas fields, according to the release.
Wachel is a former chief reservoir engineer and asset team leader of Hilcorp and deLaunay most recently worked in the company's land and business development groups.
The financing was through NGP's most recent private equity fund focused on natural resources and management, NGP Natural Resources XI LP.
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