HOUSTON, March 2, 2017 /PRNewswire/ -- TNM Resources, LLC ("TNM") and Fortuna Management ("Fortuna") announced the closing of an equity commitment from certain affiliates of Och-Ziff Capital Management Group LLC (NYSE: OZM) ("Och-Ziff").
TNM is a Houston-based exploration and production company focused on the acquisition and development of oil and gas properties in the Permian Basin. 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. Aaron Davis, TNM's President and CEO, is a petroleum engineer and most recently led Fortuna Resources Holdings' successful acquisition and development strategy in the Delaware Basin in partnership with Och-Ziff. Prior to Fortuna, Mr. Davis was with Occidental Petroleum Corporation where he oversaw multiple Permian Basin drilling and leasing programs.
"We are looking forward to continuing our relationship with Och-Ziff after our successful first partnership in the Permian," said Aaron Davis. "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."
"We are excited to partner with Aaron again," said Mark Bisso, Managing Director at Och-Ziff. "Aaron has assembled a top-tier team that has extensive regional experience, strong technical expertise, and proven capabilities to execute on TNM's strategy."
Och-Ziff has been investing in private energy since 2005 and has invested approximately $1.7 billion in private energy investments. Och-Ziff's dedicated private energy investment team focuses on middle market investments in the oil & gas upstream, midstream and energy services sectors primarily in North America.
TNM Resources, LLC is an independent oil and natural gas producers headquartered in Houston, Texas and focused on acquiring producing assets and acreage in the Permian Basin. For more information on TNM and Fortuna, please visit www.fortunaresourcesllc.com.
Och-Ziff is one of the largest institutional alternative asset managers in the world, with offices in New York, London, Hong Kong, Mumbai, Beijing, Shanghai and Houston. Och-Ziff provides asset management services to investors globally through its multi-strategy funds, dedicated credit funds, including opportunistic credit funds and Institutional Credit Strategies products, real estate funds and other alternative investment vehicles. Och-Ziff seeks to generate consistent, positive, absolute returns across market cycles, with low volatility compared to the broader markets, and with an emphasis on preservation of capital. Och-Ziff's funds invest across multiple strategies and geographies, consistent with the investment objectives of each fund. The global investment strategies Och-Ziff employs include convertible and derivative arbitrage, corporate credit, long/short equity special situations, merger arbitrage, private investments, real estate and structured credit. As of February 1, 2017, Och-Ziff had approximately $33.6 billion in assets under management. For more information, please visit Och-Ziff's website (www.ozcap.com).
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/tnm-resources-llc-partners-with-och-ziff-to-pursue-permian-basin-oil-and-gas-acquisition-and-development-opportunities-300416954.html
SOURCE TNM Resources, LLC