Funding will support Sierra’s Eagle Ford activities
Post Oak Energy Capital announced yesterday its investment into Sierra Eagle Ford, a subsidiary of private Sierra Resources.
Post Oak will commit $100 million in equity to Sierra, which will support the company’s Eagle Ford operations. Sierra began evaluating the Olmos and Eagle Ford in 2014, and has since acquired a sizeable position in the field. Sierra Resources has operations in La Salle and McMullen counties in Texas, where it holds about 60,000 acres. The company’s operations target the dry gas window of the Eagle Ford.
Source: Sierra Resources
Sierra is partnered with GSO Capital Partners in its Eagle Ford operations. GSO is the global credit investment platform of Blackstone, with approximately $95 billion of assets under management it is one of the largest alternative managers in the world.
Sierra is also involved in the Utica Shale, where it has partnered with Denham Capital. The company aggregated a position of 60,000 acres in Ohio and then monetized a part of this acreage. Sierra now holds about 25,000 acres in the play.
Source: Sierra Resources
Post Oak, established in 2006, is an energy-focused private investment firm based in Houston. The firm primarily invests in upstream oil and gas operations, but has invested in oilfield service and related infrastructure as well. Post Oak reports holding investments in 20 separate companies, with an additional 15 different previous investments that have since been realized.
