Post Oak Energy Capital LP, through investment partnerships it manages, has commitment of $35 million in equity capital to privately held exploration and production company Maverick Brothers Energy LLC.
Funding from the commitment will be used for Enid, Oklahoma-based Maverick’s captive drilling program and acreage acquisitions. Post Oak funded $12 million at closing, with the remaining $23 million available to support future development activities on leasehold acreage and other growth initiatives.
Maverick has accumulated a contiguous acreage position of more than 10,000 gross acres in Dewey County, Oklahoma and has completed four horizontal gas wells in the liquids rich Mississippian Osage formation. Maverick’s leadership team includes Bret Brickman, president and CEO and Bart Brickman, vice president.
Post Oak, which was established in 2006, is based in Houston, Texas. Its management team has executive management experience and a broad network in the energy business as well as significant expertise in private equity investments, operations, development, finance, acquisitions and divestitures. The firm pursues private equity investments primarily 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.