Recoil Resources Announces Financing with Valor Upstream Credit Partners

HOUSTON, Sept. 14, 2023 /PRNewswire/ -- Recoil Resources ("Recoil"), a privately held oil and gas company focused in the oil window of the Eagle Ford shale, today announced that it has closed a senior secured term loan with Valor Upstream Credit Partners, L.P. ("VCP"). VCP is a dedicated upstream credit fund formed by Riverstone Credit Partners and Vitol.

Charles Cusack, CEO of Recoil, commented "we chose VCP as a partner due to its long-term view and alignment with our objective of continuing to develop our position in the Eagle Ford oil window and generate high returns for our equity owners."

Daniel Flannery, Managing Director at Riverstone Credit Partners, added, "Recoil has an attractive asset base, an experienced and talented management team, and is a perfect partner for our first transaction at VCP."

About Recoil Resources

Recoil Resources is a private exploration and production company focused on acquiring and developing assets in the oil window of the Eagle Ford Shale play in South Texas. Recoil was founded in 2018 with an initial acquisition in Wilson County. Since inception, Recoil has drilled and completed 44 Eagle Ford wells and expanded its predominantly HBP'd acreage position to 55,000 acres. This contiguous position is 100% operated by Recoil with ~100% working interest and has a substantial remaining inventory of undrilled locations.

About Valor Upstream Credit Partners

Valor Upstream Credit Partners was formed in June 2023 by Riverstone Credit Partners, a dedicated credit investment platform focused on energy and the energy transition, and Vitol, the largest independent energy trading company globally. VCP seeks to make structured credit investments in North American upstream oil and gas companies.

SOURCE Recoil Resources