•  
  •  
  •  
  •  
  •  
  • Untitled Document
    Untitled Document

    Post Oak Energy Capital commits $40 million to Core Minerals Management

    Post Oak Energy Capital LP

    Houston-based Post Oak Energy Capital LP, a private equity provider, said Dec. 3 that through investment partnerships that it manages, it has committed $40 million in equity capital to Core Minerals Management II LP of Evansville, Ill.

    Funding from the commitment will be used for Core’s corporate growth and acquisitions. Post Oak funded $10 million at the November 2012 closing, with the remaining $30 million available to support future activities. Clint Wetmore, Post Oak managing director, and Ryan Mathews, Post Oak partner, led the investment.

    Core’s leadership team includes  Jim Rode, president and CEO; Mike McLear, executive vice president; and John Gasser, CFO. The company operates in and around the Illinois Basin and currently produces around 650 barrels of oil per day. The company’s existing activities include long-life oil production from conventional reservoirs and aggregating and revitalizing existing producing fields from legacy producers.

    “We are pleased to be investing with a talented management team with a regionally focused operating base in one of North America’s most prolific legacy oil basins,” said Post Oak managing director Frost Cochran.

    “From our operating base in Indiana, we are able to generate low-risk, low-cost production growth,” said Rode. “Partnering with Post Oak provides us with the capacity to fund these unique opportunities on a timely basis.”

    Established in 2006, Post Oak’s management team pursues private equity investments mainly in the upstream sector of the oil and gas industry in North America and, to a lesser extent, in oil field services and related infrastructure. 

    Core Minerals is a privately-held oil and gas company that deploys new technologies and enhanced drilling techniques in the development of assets in the Illinois Basin and beyond.

    Most Popular

    Related Articles

    Dejour secures C$2M bridge loan, adds board member

    03/13/2015 Dejour Energy Inc. has closed the initial tranche of an industry-standard bridge loan commitment of up to C$2 million from a principal and director of the company. In additional company news, James...

    Goodrich closes senior secured note offering

    03/13/2015 Goodrich Petroleum Corp. has closed its offering of $100 million aggregate principal amount of 8% senior secured notes issued at par due 2018. Net proceeds from the offering totaled approximat...

    Sunoco Logistics Partners prices public offering of common units

    03/12/2015 Sunoco Logistics Partners LP has priced its public offering of 13,500,000 common units at $41.76 per unit. The underwriters of this common unit offering have been granted an option to purchase up t...

    Axia Energy II closes private equity financing commitment

    03/12/2015

    Axia Energy II LLC has closed its private equity financing commitment with $200 million of funding commitments principally from NGP Natural Resources XI, Old Ironsides Energy, and management.

    EQT Midstream Partners prices public offering of common units

    03/12/2015 EQT Midstream Partners LP has priced 8,250,000 common units representing limited partner interests at $76 per common unit. EQT Midstream Partners LP has granted the underwriters a 30-day option to ...

    PetroQuest elects not to proceed with public offering of common stock

    03/12/2015

    PetroQuest Energy Inc. has elected not to proceed at this time with its previously announced public offering of 10,000,000 shares of its common stock. 

    More Oil & Gas Financial Articles

    Dejour secures C$2M bridge loan, adds board member

    Fri, Mar 13, 2015

    Dejour Energy Inc. has closed the initial tranche of an industry-standard bridge loan commitment of up to C$2 million from a principal and director of the company. In additional company news, James Dai has been invited to join the board of directors.

    Goodrich closes senior secured note offering

    Fri, Mar 13, 2015

    Goodrich Petroleum Corp. has closed its offering of $100 million aggregate principal amount of 8% senior secured notes issued at par due 2018. Net proceeds from the offering totaled approximately $98 million.  

    Sunoco Logistics Partners prices public offering of common units

    Thu, Mar 12, 2015

    Sunoco Logistics Partners LP has priced its public offering of 13,500,000 common units at $41.76 per unit. The underwriters of this common unit offering have been granted an option to purchase up to 2,025,000 additional common units.

    Axia Energy II closes private equity financing commitment

    Thu, Mar 12, 2015

    Axia Energy II LLC has closed its private equity financing commitment with $200 million of funding commitments principally from NGP Natural Resources XI, Old Ironsides Energy, and management.

    EQT Midstream Partners prices public offering of common units

    Thu, Mar 12, 2015

    EQT Midstream Partners LP has priced 8,250,000 common units representing limited partner interests at $76 per common unit. EQT Midstream Partners LP has granted the underwriters a 30-day option to purchase up to an additional 1,237,500 common units.

    OGFJ photo of the day


    Click to view slideshow

    Oil & Gas Jobs

    Search More Job Listings >>
    Subscribe to OGFJ