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Luxe Touts $500MM in Funding for West TX Drilling
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Luxe Energy LLC announced the closing of its private equity financing with $500 million of funding commitments from NGP Natural Resources XI, L.P., the most recent Natural Gas Partners (NGP) private equity fund focused on natural resources, and management.
The Austin, Texas based Luxe will initially focus on West Texas and applying technologies such as long reach horizontal drilling and multi stage fracking.
The founders of the Company, Lance Langford and Jeff Larson, have worked together for over 24 years starting with Burlington Resources and most recently as SVP and VP at Statoil. Prior to joining Statoil, Lance and Jeff served as EVPs for Brigham Exploration and were responsible for Brigham's entry into the Bakken Unconventional Play and continued to manage the Company's significant…
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