HOUSTON--(BUSINESS WIRE)--UpCurve Energy Partners II, LLC (“UpCurve II”) today announced the closing of an equity commitment from Post Oak Energy Capital, L.P. (“Post Oak”). In addition to the new equity commitment, UpCurve II has completed an initial acquisition in the Delaware Basin. The Company will use the remaining equity commitment to continue to pursue an “acquire and exploit” strategy, focused on value creation via best-in-class execution.
UpCurve II is led by executives Zach Fenton, Steve Escaler and Dave Kyte, who have worked together for years in their existing partnership with Post Oak, UpCurve Energy Partners, LLC (“UpCurve I”). Both UpCurve I and II represent a highly economic acreage position in the core of the Southern Delaware Basin.
“We are excited to once again partner with the Post Oak team. We believe that patient, long-term capital in combination with prudent and environmentally responsible development will yield attractive investment returns, particularly in the current macro environment. Our data analytics capabilities, in combination with subsurface, operational and transactional experience, will allow us to continue to acquire and develop producing assets at the lowest breakeven cost. The Permian Basin remains the premier oil play in the world and has a bright future. UpCurve looks forward to being a part of it,” said UpCurve President Zach Fenton.
“Post Oak looks forward to continuing to work with UpCurve in this opportunity-rich environment,” added Ryan Walsh, Post Oak Director. “We believe the team’s unique combination of technical expertise and commercial acumen will position us well for continued success in the Permian Basin.”
UpCurve is a privately held, independent E&P company headquartered in Houston, which is engaged in the acquisition and development of oil and gas properties across the Permian Basin. The Company was originally formed in 2015 in partnership with Post Oak Energy Capital. UpCurve currently operates a leasehold position of 12,000 net acres in Reeves County, producing 12,000 boe/d. Prior to UpCurve, the majority of the management team worked together at ConocoPhillips across multiple unconventional basins. The Company is actively evaluating acquisition opportunities in both the Delaware and Midland basins. For more information, please visit https://upcurveenergy.com/.
About Post Oak Energy Capital, L.P.
Post Oak, which was established in 2006, is a Houston-based private equity firm primarily focused on making domestic investments in the upstream, midstream and oilfield services sectors of the energy industry. Post Oak seeks to identify outstanding oil and gas entrepreneurs and management teams with well-defined business plans that also possess a demonstrated track record of creating accretive value for shareholders. For more information, please visit www.postoakenergy.com.