Pearl Energy Investments has invested $90 million in Slant Energy II, a newly formed upstream oil and gas exploration and production company. Headquartered in Lafayette, Louisiana, Slant II will pursue acquisition and development opportunities focused primarily in the Permian Basin, North Texas, and East Texas.
LAFAYETTE, La.–(BUSINESS WIRE)–Slant Energy II, LLC (“Slant II”), a newly formed upstream oil and gas exploration and production company, announced today it has secured a $90 million commitment from Dallas-based private equity firm, Pearl Energy Investments (“Pearl”). Headquartered in Lafayette, Louisiana, Slant II will pursue acquisition and development opportunities focused primarily in the Permian Basin, North Texas, and East Texas.
Slant II was co-founded by Stewart Stover and Jeff Etienne. Prior to Slant II, Stewart, Jeff, and existing Slant I management have demonstrated a successful track record acquiring, optimizing, and developing upstream assets in various onshore basins.
“We are very appreciative of the ongoing support from Pearl. We have had a great partnership and view this additional commitment as an opportunity to continue to execute our business plan,” said Slant II Chief Executive Officer Stewart Stover.
Billy Quinn, Managing Partner of Pearl, said, “The Slant team has proven their ability to create value in multiple operating regions and through dynamic market conditions. Pearl is excited to support Slant II as the team capitalizes on areas of historic success.”
Kirkland & Ellis LLP served as legal advisor to Slant II and Sidley Austin LLP served as legal advisor to Pearl in connection with the formation of Slant II.
About Slant II
Slant II is a Lafayette-based upstream oil and gas company focused on acquiring and developing assets in select onshore basins. For additional information, please visit www.slantenergy.com.
About Pearl Energy Investments
Pearl Energy Investments is a Dallas, Texas-based investment firm with $1.2 billion of committed capital under management. Pearl focuses on partnering with best-in-class management teams to invest in the lower-to-middle market North American energy and sustainability sectors. The firm typically targets opportunities requiring $25 million to $150 million of equity capital. For additional information, please visit www.pearl-energy.com.