Ridgemont Equity Partners and Post Oak Energy Capital have made a $100 million capital commitment to Titan River Energy. Titan River’s management team will be co-investing alongside Ridgemont and Post Oak.
Titan River is a newly formed oil and gas company headquartered in Fort Worth. Titan River will initially focus on oil-prone shale resources via joint ventures, farm-ins and organic leasing opportunities in Texas (www.titanriverenergy.com).
The company’s management team includes Chip Simmons, CEO; Lee Matthews, President and COO; Don Pearce, EVP of drilling operations; Kent Bowker, EVP of Geology; and Brennan Potts, VP of Land and Business Development. The management team has experience in the geologic assessment, drilling and completion of over 400 horizontal wells in several shale plays, with a recent focus on the Eagle Ford Shale.
“The Titan River team is privileged to have access to the financial support and industry knowledge of Ridgemont and Post Oak,” said Mr. Simmons. “I also feel fortunate to be partnered with such a high-caliber management team. We are anxious to pursue our business model of converting acreage into reserves via drilling joint ventures, farm-ins and organic leasing opportunities.”
Ridgemont Equity Partners (formerly Banc of America Capital Investors) focuses on middle market buyout and growth equity investments of $25 million to $75 million. The firm invests in the following sectors: basic industries and services; energy; healthcare; and telecommunications/media/technology. Ridgemont Equity Partners is headquartered in Charlotte, NC (www.ridgemontep.com).
“The principals of Ridgemont have known Chip Simmons for many years. We have great appreciation for his abilities and much respect for Titan River’s technical team, led by Lee Matthews,” said John Shimp, Partner at Ridgemont. “We look forward to working with Chip, Lee and our partners at Post Oak.”
Post Oak Energy Capital pursues private equity investments primarily in the upstream sector of the oil and gas industry in North America and, to a lesser extent, in oil field services and related infrastructure. The firm which was founded in 2006 and is based in Houston (www.postoakenergy.com).
“We are pleased to be involved with Ridgemont, as well as Chip and Lee, in creating Titan River,” said Frost Cochran, Managing Director at Post Oak. “We believe that the combination of management talent at Titan is optimal for creating a successful company in the current domestic oil and gas market.”
© 2013 PEPD • Private Equity’s Leading News Magazine • 3-27-13