New Company / Start-Ups | Capital Markets
Ridgemar Energy Gets Funding from Large PE Firm, Forms New Company
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Ridgemar Energy, said it recieved an equity commitment from Carnelian Energy Capital Management, . Ridgemar, headquartered in Houston, is pursuing an acquisition and development strategy in select onshore basins in North America. Ridgemar is led by Preston Powell, who was previously a senior member of the investment team at Carnelian, as well as Mina Elmalak and David Loveday, who bring strong technical and operating experience to the team from prior roles at Concho Resources, ConocoPhillips and Chevron.
“We are excited to partner with Carnelian to build Ridgemar during this compelling time in the market,” said Powell, Ridgemar’s Chief Executive Officer. “As the industry continues to consolidate, we are seeing attractive opportunities to capture assets and create value.”
“After working…
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