Post Oak Energy Capital Provides Equity Commitment to Ichthys Energy
HOUSTON & DALLAS–(BUSINESS WIRE)–Post Oak Energy Capital, L.P. (“Post Oak”) today announced the closing of an equity commitment to Ichthys Energy Partners, LLC (“Ichthys”) from investment funds managed by Post Oak. Ichthys seeks to execute its growth strategy through a targeted ground game focused on operated and non-operated leasehold acquisitions and strategic partnerships across the Permian.
Based in Dallas, Ichthys is an exploration and production company focused on aggregating and responsibly developing operated inventory in the Permian Basin. The Ichthys management team is led by co-founders Michael Poynter, Chief Executive Officer, and Will Weidig, Chief Financial Officer. Both Poynter and Weidig have extensive experience presiding in leadership roles for marquee private equity backed and publicly traded companies in the Permian Basin.
“We are excited to partner with Post Oak in order to assemble and develop a high-quality operated inventory position in the Permian Basin,” said Michael Poynter, Chief Executive Officer. “Partnership is integral to the Ichthys strategy, and working alongside a proven financial partner in Post Oak and leveraging our strong relationships in the Permian will position Ichthys to move quickly and creatively to successfully capture opportunities.”
“Post Oak has a strong track record of success across the energy industry, and they are recognized as an incredibly knowledgeable, collaborative and supportive partner. We believe that our collective experience aggregating, developing and monetizing assets in the Permian Basin, combined with Post Oak’s area expertise, will position Ichthys to execute our growth strategy and generate attractive risk-adjusted returns for our investors,” added Will Weidig, Chief Financial Officer.
“We are pleased to partner with the Ichthys management team, who brings a stellar track record across the Permian Basin, via both a public and private equity lens,” said Ryan Walsh, Post Oak Director. “Continued industry consolidation is generating attractive opportunities for motivated entrepreneurs, and we look forward to working closely with the Ichthys management team to leverage both their deep seated industry relationships as well as commercial creativity to prosecute successful outcomes during this unique time in the basin’s investment life cycle.”
Kirkland & Ellis LLP served as legal advisor to Ichthys and Latham & Watkins LLP served as legal advisor to Post Oak in connection to the formation of Ichthys.
About Post Oak Energy Capital, L.P.
Post Oak, which was established in 2006, is a Houston-based private equity firm primarily focused on making domestic investments in the upstream, midstream and oilfield services sectors of the energy industry. Post Oak seeks to identify outstanding oil and gas entrepreneurs and management teams with well-defined business plans that also possess a demonstrated track record of creating accretive value for shareholders. For more information, please visit: www.postoakenergy.com.
About Ichthys Energy Partners, LLC
Ichthys Energy Partners, a Dallas-based exploration and production company founded by Michael Poynter and Will Weidig, is pursuing an inventory aggregation and development strategy focused in the Permian Basin, where management has extensive experience in leadership roles. For more information, please visit: www.ichthysenergy.com.
Contacts
Media contact
Kelly Kimberly, FGS Global
713.822.7538
