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Texas American Raises Capital To Drill Eagle Ford Shale
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A Houston-based energy investment affiliate of Carlson Capital LP and Bluescape Resources announced Monday that it had acquired a piece of upstream oil and gas company Texas American Partners LLC for $140 million, adding to its North American portfolio.
Parallel Resource Partners LLC, the general partner to a private equity fund focused on making controlled investments in “distress-driven opportunities in the North American upstream oil and gas sector,” will provide a needed cash infusion to Texas American in return for an equity stake in the company.
“Texas American is an excellent fit with Parallel’s portfolio,” Parallel Chairman C. John Wilder said. “This exciting investment immediately recapitalizes Texas American, ensuring the company has the financial flexibility required to compete…
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