WICHITA FALLS, Texas–(BUSINESS WIRE)–SLANT Energy (“SLANT”) announced today that the company has secured a $30 million equity commitment from Dallas-based Pearl Energy Investments (“Pearl”). With offices in Wichita Falls, Texas and Lafayette, Louisiana, SLANT is a startup exploration and production company focused on developing shallow, conventional oil and gas fields in the North Texas and mid-continent regions. The company will pursue drilling new wells in established reservoirs as well as purchasing existing assets, optimizing production and maximizing value.
SLANT’s management team has a wide range of experience and has learned the business from the ground up, developing an in-depth knowledge of oil and gas production through a hands-on approach. The company is led by three co-founders: Chief Executive Officer Stewart Stover III; Chief Financial Officer Thomas Saloom; and Executive Vice President of Land and Business Development Sean Gill. A petroleum engineer, Mr. Stover recently served as Vice President of Operations at Texas Energy Holdings and also as a senior engineer at Extex Operating. Mr. Stover has years of experience in operations, acquisition evaluation, reservoir management and strategic planning. Mr. Saloom most recently served as Controller at Robertson Energy, and has a broad range of experience managing capital expenditures, acquisitions and divestitures, financial reporting, and risk management. Mr. Gill has served as an in-house landman for Texas Energy Holdings as well as an operations analyst. He is responsible for all land functions at SLANT, and will focus on developing new business opportunities in addition to maintaining environmental and regulatory compliance.
“At SLANT, we believe in a business model based on a lean organizational structure and a disciplined approach to strategically-sound operations. We are excited about the common vision we share with Pearl and believe that our strong equity backing will enable us to create value in this market environment,” said SLANT Chief Executive Officer, Stewart Stover. “We are confident that our real-time experience and intimate knowledge of operations and efficiencies will allow us to effectively utilize this capital to develop a diverse portfolio of conventional oil and gas assets through drilling and acquisitions.”
“SLANT is led by a team of outstanding managers with hands-on experience, the exact background required to execute their business plan drilling shallow, conventional wells in the North Texas and mid-continent regions,” said Pearl Managing Partner and co-founder, Billy Quinn. “We welcome their lean, aggressive, nimble approach to business and look forward to supporting them as they grow.”
SLANT stands for South Louisiana and North Texas. The name is meaningful as co-founders Stewart Stover and Thomas Saloom are from South Louisiana and Sean Gill is from North Texas. Additionally, these areas are where the SLANT management team gained valuable experience and expertise in the oil and gas industry.
About SLANT Energy
SLANT Energy is an independent exploration and production company focused on developing conventional, shallow oil and gas properties in North Texas and the mid-continent region. The Company was founded with a $30 million equity commitment from Pearl Energy Investments. SLANT has offices in Wichita Falls, Texas and Lafayette, Louisiana. For more information, please visit www.slantenergy.com.
About Pearl Energy Investments
Founded in 2015, Pearl Energy Investments is an energy investment firm based in Dallas. Pearl targets small to middle market private investment opportunities requiring between $25 million and $75 million of equity capital in the North American upstream, midstream, and oilfield services sectors. For more information, please visit www.pearl-energy.com.