Torrent Oil & Gas LLC (“Torrent Oil” or the “Company”) today announced
that it has secured a private equity financing commitment and
partnership with Natural Gas Partners (“NGP”) through NGP Natural
Resources XI, L.P., the most recent NGP private equity fund focused on
natural resources and management.
Founded in 2015, Torrent Oil focuses on acquiring and redeveloping oil
and gas assets within the Gulf Coast, East Texas and Ark-La-Tex Basins.
The Houston, Texas based company is led by Hilcorp Energy Company
veterans Greg Wachel and Henri deLaunay. The two have a combined 30
years of experience in the acquisition and management of oil and gas
As CEO and President of Torrent Oil, Wachel is a former Chief Reservoir
Engineer and Asset Team Leader of Hilcorp. Torrent Oil Executive Vice
President deLaunay most recently worked in Hilcorp’s Land and Business
“With the partnership of NGP, we are positioned to execute on an
exciting business strategy – identifying and acquiring a select group of
assets that are undercapitalized and full of potential,” says Wachel.
“In our view, this market presents unique opportunities to find and
generate great value from underutilized assets.”
“We see great promise in this emerging company and its outlook for
discovering new opportunities in the market,” said David Hayes, Managing
Director of NGP. “Torrent’s business approach, entrepreneurial vision
and corporate philosophy tie in perfectly with our investment goals in
the natural resources industry.”
About Torrent Oil & Gas LLC
Torrent Oil is an independent oil and natural gas company based in
Houston, Texas. Our work is centered on our strategy to reinvigorate
assets with new technologies, new people and an entrepreneurial spirit.
We are committed to being responsible in our efforts in producing oil
and gas. This includes the safety of not only our employees, but also
the people and environment that surround us. The Company aims to create
value through the acquisition and exploitation of challenging, mature,
legacy properties. Visit Torrent Oil at www.torrentoil.com.
Founded in 1988, Natural Gas Partners (“NGP”) is a family of private
equity investment funds, with approximately $17 billion of cumulative
equity commitments, organized to make investments in the natural
resources sector. NGP is part of the investment platform of NGP Energy
Capital Management, a premier investment franchise in the natural
resources industry. In addition to NGP, NGP Energy Capital Management’s
investment platform includes NGP Global Agribusiness Partners and NGP
Energy Technology Partners. Visit NGP at www.naturalgaspartners.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160204005771/en/
Copyright Business Wire 2016
Source: Business Wire
(February 4, 2016 - 8:24 AM EST)
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