Canyon Creek Resources nets $75 mln from ArcLight Capital Partners

Tulsa-based Canyon Creek Resources has received an equity capital commitment of $75 million from ArcLight Capital Partners. As a result of the capital commitment, Canyon Creek Resources and ArcLight have launched Canyon Creek Energy Partners, which will acquire and develop oil and gas assets in the U.S. mid-continent region. Canyon Creek’s president and CEO R. Luke Essman and Brett A. Bradford, the firm’s executive vice president and COO, will continue in their roles.

PRESS RELEASE

TULSA, Okla., April 2, 2014 /PRNewswire/ — Canyon Creek Resources, LLC, a Tulsa-based oil and gas exploration company, announced today an equity capital commitment of $75 million from an affiliate of ArcLight Capital Partners, LLC. In connection with the capital commitment, Canyon Creek Resources and ArcLight formed Canyon Creek Energy Partners, LLC. Canyon Creek Energy will engage in the acquisition and development of oil and gas assets in the Mid-Continent region of the United States.
Canyon Creek will continue to be led by R. Luke Essman, President and CEO and Brett A. Bradford, Executive Vice President and COO. The management team also includes Patrick A. Hall, Senior Vice President and CFO, Stephen R. McNamara, Jr., Vice President – Land and Ronald N. Threadgill, Vice President – Field Operations.
“We are pleased to partner with ArcLight, whose strong financial support and energy industry expertise will be instrumental to our success. We have formed an exceptional management team and ArcLight’s support will allow us to focus aggressively on our development strategies,” said Luke Essman.
“We’re excited about our relationship with Canyon Creek and the prospects of this partnership,” said Mark Bisso, Principal at ArcLight. “They have assembled a top tier management team and the company is very well positioned to leverage its acquisition and development experience in the Mid-Continent region.”
About Canyon Creek:
Headquartered in Tulsa, Oklahoma, Canyon Creek was formed in 2012 to focus on acquisition and development opportunities in the Mid-Continent region of the United States. Canyon Creek management’s expertise focuses on efficient operational and development strategies with a history of successful oil and gas developments. Canyon Creek currently owns and operates oil and gas assets in Oklahoma and will continue to expand its footprint within the Mid-Continent region.
Website: www.canyoncreekenergy.com
About ArcLight Capital:
ArcLight is one of the leading private equity firms focused on North American energy infrastructure assets. Since its establishment in 2001, ArcLight has invested over $10 billion across multiple energy cycles in more than 100 power, midstream and production assets. Headquartered in Boston, Massachusetts with an additional office in Luxembourg, the firm’s investment team brings extensive energy expertise, industry relationships, and specialized value creation capabilities to its portfolio.

 

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