Colgate Energy announces partnership
Published by Angharad Lock,
Digital Assistant Editor
Hydrocarbon Engineering,
Colgate Energy LLC has announced it has raised US$75 million of equity commitments from lead investor Pearl Energy Investments, alongside Natural Gas Partners through its affiliate, NGP Natural Resources XI, LP and the Colgate management team.
“The Colgate team is excited to partner with Pearl and NGP, who both have a long history of investing in the oil and gas business. We expect the challenging commodity price environment to present opportunities for Colgate to acquire both legacy producing assets and undeveloped horizontal acreage,” James Walter said.
“Given the current commodity price environment, it is imperative that we leverage the experience of our management team, the financial expertise of our investors and the technological improvements in the industry to be successful,” Will Hickey added.
“Pearl is excited to partner with the Colgate team and our equity commitment reflects the confidence we have in Will and James,” stated Billy Quinn, Managing Partner and co-founder of Pearl. “With the Colgate team’s prior experience and strong relationships in their focus area, we believe the Company is well positioned to capitalise on the current market environment.”
Edited from press release by Angharad Lock
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/26022016/colgate-energy-announces-partnership-2598/
You might also like
Hydrocarbon Engineering Podcast
Mike Logue, Owens Corning Global Business Director – Mechanical Insulation, delves into factors that can support the performance, safety and longevity of insulating systems installed in hydrocarbon processing environments, including cryogenic facilities.
Zeopore’s semi-industrial facility fulfilling first customer orders
The recently commissioned facility is fulfilling its first customer orders of high-performance zeolites for multiple catalytic applications.
