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Newly-Minted Delaware Basin E&P Scores $100MM in Equity
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Post Oak Energy Capital, LP, through investment partnerships it manages, has led a $100 million equity commitment to Crown Oil Partners V, LP.
Funding from the equity commitment will be used for Midland, Texas-based Crown V's corporate growth capital, development acceleration and acquisitions.
Crown V is led by Mike Black and Brandon Black. The company is the sixth operating oil and gas partnership formed by Mike Black since 1988, with each of the previous endeavors generating attractive returns for investors. Post Oak has enjoyed a relationship with Crown's management since 2008 and Crown V is Post Oak's third investment with this team.
Post Oak Managing Director Frost Cochran commented: "Crown's track record is strong and we have confidence in the company's continuing ability to…
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