Post Oak Energy Capital Leads $100 Million Commitment to Crown Oil Partners V, LP

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Apr 23, 2014, 10:50 ET

HOUSTON, April 23, 2014 /PRNewswire/ -- Post Oak Energy Capital, LP (Post Oak), through investment partnerships it manages, today announced that it led a $100 million equity commitment to Crown Oil Partners V, LP (Crown V). Funding from the equity commitment will be used for Midland, Texas-based Crown V's corporate growth capital, development acceleration and acquisitions.

Crown V is led by Mike Black and Brandon Black. The company is the sixth operating oil and gas partnership formed by Mike Black since 1988, with each of the previous endeavors generating attractive returns for investors. Post Oak has enjoyed a relationship with Crown's management since 2008 and Crown V is Post Oak's third investment with this team.

"Crown's track record is strong and we have confidence in the company's continuing ability to deliver results," said Post Oak Managing Director Frost Cochran. "We are pleased to have the opportunity to work with Mike and Brandon again in the Permian Basin."

Crown V's current activities include implementing and optimizing secondary recovery operations as well as conducting development drilling operations in the Clearfork, Wolfcamp and Bone Springs formations in west Texas and southeast New Mexico.

About Post Oak Energy:

Post Oak, which was established in 2006, is an energy-focused private investor 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 equity investments, operations, development, finance, acquisitions and divestitures. The firm pursues private investments primarily in the upstream sector of the oil and gas industry in North America and, to a lesser extent, in oilfield service 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.

About Crown Oil Partners V:

Crown Oil Partners V, LP is a privately held oil and gas company located in Midland, Texas with a business model of acquiring and developing low-risk oil and natural gas exploitation properties primarily located in the Permian Basin.

SOURCE Post Oak Energy Capital, LP