TNM Resources LLC is partnering with Och-Ziff Capital Management Group LLC to pursue Permian A&D opportunities, the Houston-based E&P said March 2.
TNM closed an equity commitment from certain affiliates of Och-Ziff. The value of the investment wasn't disclosed.
The TNM management team has substantial experience working in the Permian Basin with a demonstrated history of acquiring and exploiting multiple oil and gas assets in the Delaware Basin and Central Basin Platform, the release said.
RELATED: PDC Energy Extends Delaware Position With $118 Million Deal
Aaron Davis, TNM's president and CEO, recently led Fortuna Resources Holdings LLC's successful acquisition and development strategy in partnership with Och-Ziff, including the recent $118 million sale of Delaware Basin assets to PDC Energy Inc. (NASDAQ: PDCE).
"Och-Ziff has been a good partner and has the financial insight, resources and investment experience to help us exploit the compelling investment opportunities we continue to see in select regions of the Permian Basin," Davis said in a statement.
Prior to Fortuna, Davis was with Occidental Petroleum Corp. (NYSE: OXY) where he oversaw multiple Permian Basin drilling and leasing programs.
Och-Ziff has invested about $1.7 billion in private energy since 2005, according to the release. The firm has offices in New York, London, Hong Kong, Mumbai, Beijing, Shanghai and Houston.
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