Post Oak Energy (Post Oak) has committed US$150 million to PetroEdge Energy IV (PetroEdge). PetroEdge's management team will be co-investing alongside Post Oak.
PetroEdge is a fourth iteration of the oil and gas company headquartered in Houston, Texas. The company's management team includes Larry Richard, President and CEO, Larry Buchanan, executive VP of operations, Jack Ward, executive VP of E&P, and Mark Malinski, CFO.
Most recently, PetroEdge acquired, developed and sold an acreage position in Brazos and Burleson Counties, Texas, where they focused on drilling and developing the lower Eagle Ford.
"PetroEdge is a very experienced, regionally focused management team with a solid track record," said Frost Cochran, managing director of Post Oak. "Re-upping with another capital commitment with a proven team is consistent with our investment philosophy."
Larry Richard, President and CEO of PetroEdge said, "Our management team is pleased to build off of our past success of applying our technical expertise as an early mover in unconventional exploration. We look forward to building another world class company with our capital partner, Post Oak."
Image from PetroEdge