Post Oak Energy Capital Commits $150 Million to PetroEdge Energy IV
HOUSTON, April 16, 2015 /PRNewswire/ -- Post Oak Energy Capital (Post Oak) today announced a $150 million capital commitment to PetroEdge Energy IV, LLC (PetroEdge or the company.) PetroEdge's management team will be co-investing alongside Post Oak.
PetroEdge is a fourth iteration of the highly successful oil and gas company headquartered in Houston, Texas. The company's management team includes Larry Richard, President and CEO; Larry Buchanan, EVP of Operations; Jack Ward, EVP of Exploration & Production; and Mark Malinski, CFO. Since 2004, PetroEdge's management has successfully built and sold three oil and gas companies. The team has a proven track record in the geologic assessment, drilling and completion of horizontal wells in shale plays. In addition, PetroEdge has deep knowledge of conventional and unconventional oil and gas development.
Most recently, PetroEdge acquired, developed and sold an acreage position in Brazos and Burleson Counties, Texas, where they focused on drilling and developing the lower Eagle Ford (Maness), an oil-prone shale play. The new iteration of the company will continue to acquire and develop similar assets where the management team can utilize its strong technical skills.
"PetroEdge is a very experienced, regionally focused management team with a solid track record," said Frost Cochran, Managing Director of Post Oak. "Re-upping with another capital commitment with a proven team is consistent with our investment philosophy."
Larry Richard, President and CEO of PetroEdge said, "Our management team is pleased to build off of our past success of applying our technical expertise as an early mover in unconventional exploration. We look forward to building another world class company with our capital partner, Post Oak."
About PetroEdge:
PetroEdge is an independent oil and gas company engaged in the acquisition, exploration and exploitation of unconventional natural gas and crude oil properties. Previously, the PetroEdge management team has been backed by Post Oak, Goldman Sachs and EnCap. Prior to forming PetroEdge, the management held senior positions at several leading energy companies, including Halliburton, Pennzoil, Texaco, Petroleum Geoservices and Southland Royalty.
For more information, please visit www.petroedge.com.
About Post Oak Energy:
Post Oak, which was established in 2006, is an energy-focused private equity firm based in Houston, Texas. Its management team has executive management experience and a broad network in the energy business as well as significant expertise in private equity investments, operations, development, finance, acquisitions and divestitures. The firm pursues private equity investments primarily in the upstream sector of the oil and gas industry in North America and, to a lesser extent, in oil field services and related infrastructure. Post Oak works in close partnership with operating management teams to build businesses, accelerate growth and enhance shareholder value.
Post Oak's website is http://www.postoakenergy.com.
SOURCE Post Oak Energy Capital
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