Inflection Energy LLC, an independent oil and gas exploration and production company, has received an equity investment led by Noble Group, a global supply chain manager of bulk commodities. Inflection Energy is focused on the development and production of Marcellus Shale natural gas resources in Pennsylvania and New York. Existing investors Bregal Energy (formerly Good Energies Capital) and Hexagon also participated in the round that will fund a drilling program in Pennsylvania and support company growth activities.
"This investment from Noble Group represents a strategic milestone for Inflection Energy that sets the company on a clear path of long-term growth," said Mark Sexton, chairman and CEO of Inflection. "With domain expertise in natural gas marketing and trading, Noble Group will prove to be a valuable strategic partner for Inflection Energy as we commence our drilling activities and optimize our natural gas sales."
Noble Group's investment was made through its natural gas and power subsidiary, Noble Americas Gas & Power Corp. (NAGP). In addition, Inflection Energy executed long-dated gas marketing and hedging agreements with NAGP. "We are delighted to be partnering with Inflection Energy whose focused vision, attractive acreage, and strong technical expertise provides promising growth prospects," said Brian Falik, managing director of NAGP. In addition, "Noble Group shares Inflection Energy's commitment to the responsible development of natural gas resources and the opportunity to economically strengthen our local communities."
Privately-held Inflection Energy LLC, with offices in Denver, Pittsburgh and Williamsport, was founded in 2008, and is focused on the exploration and development of natural gas opportunities in the Appalachian region.