Silverstone Energy Partners Announces $15 Million VPP Financing for Craton's Acquisition of East Texas Producing Properties

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Jan 10, 2023, 08:44 ET

HOUSTON, Jan. 10, 2023 /PRNewswire/ -- Silverstone Energy Partners LLC ("Silverstone") announced that it provided a volumetric production payment financing ("VPP") to fund the acquisition of East Texas gas properties by Craton Oil & Gas LLC ("Craton") in December 2022. Craton is a private, Houston-based E&P led by highly successful industry veteran Bob Marin.

Marshall Lynn Bass, Managing Director of Silverstone, said, "We are excited to provide Craton with capital to purchase and begin development of this conventional gas property. This is in addition to the $15 million VPP financing we provided Craton in March of 2022. They have demonstrated top-tier operating talent and have grown production considerably."

Bob Marin, Founder of Craton, added, "We continue to evaluate additional acquisitions in East Texas and beyond as we grow our company. We are pleased with the support Silverstone has provided our team and know they are aligned with us to achieve our growth."

"We hope to provide additional support to Bob and his team in the form of larger financings," added Bass.

About Silverstone – Silverstone Energy Partners is a private investment firm with offices in Houston, making upstream and midstream Energy investments in the lower 48. Deal sizes are between $5 - $200 million. Structures include stretch debt, VPPs, mezzanine, project equity, drilling joint ventures and similar structures. www.silverstone-energy.net.

About Craton – Craton Oil & Gas is a privately held, oil and gas operator originally formed in 2002 with experience throughout the lower 48. Craton has partnered with global energy investors through several asset-based entities over the past twenty years with a track record of acquisitions, drilling and secondary development, providing positive returns on investment.

Mark L. Jones of Baker & Hostetler LLP advised Silverstone and R. Reese & Associates, PLLC and Continental Energy Advisors LLC advised Craton.

This communication is for informational purposes only and is not intended to be an offer or a solicitation of an offer to purchase or sell any security or other investment or an offer or a solicitation of an offer to provide any investment service. In addition, nothing in this communication should be construed as a recommendation to purchase, sell or hold any security or other investment, or pursue any investment style or strategy.

SOURCE Silverstone Energy Partners LLC