Finance & Investing | Top Story | Private Equity | Capital Markets | Private Equity Activity
Barnett Shale Company Scores $150 Million from PE Firm
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Post Oak Energy Capital, LP has committed to a $150 million line of equity to CP Exploration II, LLC (CPX). Funding from the commitment will be used for acquisitions and growth capital.
CPX is a newly formed oil and gas company co-located in Dallas, TX and Lafayette, LA. The management team, led by CEO Tom Powell, has considerable experience drilling and developing assets in multiple basins across the United States, including the Gulf Coast, Rockies and Appalachia. The company currently has operated assets in East Texas and the Ft. Worth Basin / Barnett Shale.
Post Oak Managing Director Frost Cochran commented: "CP Exploration has a deep and proven multi-disciplined technical team. We believe Tom and his team will continue to generate outstanding returns as they have done on numerous…
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