HOUSTON--(BUSINESS WIRE)--Post Oak Energy Capital, LP (“Post Oak”), through investment partnerships it manages, today announced that it led a $100 million equity commitment to Nadel and Gussman NV, LLC (the “Company” or “NGNV”). Affiliates of Nadel and Gussman, LLC and the management team will co-invest alongside Post Oak.
NGNV is a Tulsa-based exploration and production company with an initial focus on the acquisition and development of oil and gas properties in the Haynesville Shale. NGNV is also evaluating additional resource shale plays throughout the United States. The NGNV team is led by industry veterans Jim Adelson and Stephen Heyman and includes Kevin DeLay, COO; Shelley Nichols, CFO; Jim Bucci, VP – Geoscience and Perry Phipps, VP – Land & General Counsel. The NGNV team has extensive experience in all phases of the oil and gas business and has a long and successful track record of acquiring and developing oil and gas assets.
“Post Oak is excited to again partner with Nadel and Gussman following on the heels of our successful venture in the Permian Basin,” said Post Oak Managing Director Frost Cochran. “Nadel and Gussman has a long history of successfully investing in the oil and gas business across the country and provides the ideal partner for Post Oak and its investors.”
Jim Adelson, President of Nadel and Gussman, LLC and CEO of NGNV said, “I am thrilled to team up with Post Oak in this exciting new venture. Nadel and Gussman, LLC’s 75-years of operational excellence, the NGNV management team’s proven capabilities of value creation, and Post Oak’s financial and strategic strengths provide a formidable combination.”
About Post Oak Energy: Post Oak, which was established in 2006, is an energy-focused private investor 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 equity investments, operations, development, finance, acquisitions and divestitures. The firm pursues private investments primarily in the upstream sector of the oil and gas industry in North America and, to a lesser extent, in oilfield service and related infrastructure. Post Oak works in close partnership with operating management teams to build businesses, accelerate growth and enhance shareholder value. www.postoakenergy.com.
About Nadel and Gussman, LLC: Nadel and Gussman, LLC was established in 1940 by Herb Gussman and Isadore Nadel. Mssrs. Nadel and Gussman would go on to build one of the largest independent oil producers in Kansas and the prolific Osage County, Oklahoma. Stephen Heyman and Jim Adelson joined the company in 1965 and 1986, respectively, and through their leadership, Nadel and Gussman, LLC has built successful positions in oil and gas plays throughout the United States, including Louisiana, Texas, Kansas, New Mexico, North Dakota and Oklahoma. www.nadelgussman.com