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LOLA Energy Lands $250 Million Equity Commitment
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LOLA Energy has recently closed on a $250 million equity commitment from leading energy and resources-focused global private equity firm Denham Capital. The equity funding will supplement equity commitments from the executive management team and be used by the company to pursue the leasing, acquisition, exploration and development of oil and gas properties in the Marcellus and Utica shale plays in Appalachia.
The company has begun acquiring oil and gas properties for horizontal shale oil and gas development in core areas of the two shale plays. It expects to bring 10 to 20 new jobs to the Greater Pittsburgh region within its first year of business and will procure the services of local companies and professionals serving the oil and gas industry whenever it is practical to do so.
Jim Croc…
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