HOUSTON–(BUSINESS WIRE)–Post Oak Energy Capital, LP (“Post Oak”), through investment partnerships it manages, today announced that it led a $200 million equity commitment to Moriah Henry Partners LLC (the “Company”). Henry Energy LP (“Henry”) and Moriah Energy Investments, LLC (“Moriah”) will co-invest alongside Post Oak.
Moriah Henry Partners LLC is a Midland-based exploration and production company focused on the acquisition and development of oil and gas properties in the Midland Basin of West Texas. The Company is jointly managed by Henry and Moriah, which have a long history of collaboration and value creation in the upstream space, particularly in the Permian Basin. The Company will use proceeds from the investment to fund acquisitions in the core of the Midland Basin and subsequently develop those assets.
“We are delighted to partner with these industry veterans and leaders,” said Post Oak Managing Director Frost Cochran. “Their deep experience in the Midland Basin will allow us to capitalize on numerous opportunities in one of the most economic basins in the country.”
Jim Henry, Founder and Chairman of The Henry Companies said, “I am very excited to be focused, once again, in the core of the Midland Basin, where I began drilling Spraberry wells nearly 50 years ago. Our relationship with Moriah and Post Oak enhances our capacity to drill horizontal Wolfberry wells in an area we are very familiar with.”
”We are thrilled to partner with Henry and Post Oak Energy Capital,” said Cary D. Brown, Founder and Chairman of Moriah Energy Investments, LLC. “The relationship provides a powerful combination of technical and unconventional development experience with financial and strategic capabilities.”
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 Henry Energy LP:
Henry Energy is a privately held Permian Basin oil and gas producer. The company has been in business in Midland, Texas since 1969. Until 2008, when the entity was sold to Concho Resources, the company operated under the name of Henry Petroleum. After the sale, Henry management quickly reorganized and commenced operations under Henry Energy and its operating company, Henry Resources LLC. Henry Resources is managed by an experienced group of individuals, many of whom have worked for major oil companies, large independents, and international CPA firms.
About Moriah Energy Investments, LLC:
Moriah Energy Investments manages oil and gas investments for Moriah Group, a diversified holding company built upon the principles of intelligence, integrity and interest alignment. Moriah Energy Investments, has extensive experience in the upstream and midstream sectors, including identifying, evaluating, acquiring, and exploiting a variety of opportunities.
About Moriah Henry Partners LLC:
Moriah Henry Partners LLC is a Midland-based exploration and production company focused on the acquisition and development of oil and gas properties in the Midland Basin of West Texas. The Company is a collaboration among Post Oak Energy Capital, Henry Energy, LP and Moriah Energy Investments, LLC.