US-based exploration and production company Nadel and Gussman NV (NGNV) has secured a $100m investment commitment from private equity firm Post Oak Energy Capital to carry out its acquisition programme.
NGNV will utilise the funds to acquire and develop oil and gas properties in the Haynesville Shale, US.
The company is also exploring options to acquire additional resource shale plays throughout the country.
Post Oak Energy Capital managing director Frost Cochran said: “Post Oak is excited to again partner with Nadel and Gussman following on the heels of our successful venture in the Permian Basin.”
“Nadel and Gussman has a long history of successfully investing in the oil and gas business across the country and provides the ideal partner for Post Oak and its investors.”
Post Oak will be joined by affiliates and the management team of NGNV in the investment programme.
Nadel and Gussman has established positions in oil and gas plays in the US, including Louisiana, Texas, Kansas, New Mexico, North Dakota and Oklahoma.
The company operates more than 650 wells in eight different states, with a focus on drilling and purchase production drawn from its own resources, in addition to expanding into both conventional and unconventional resources.
Post Oak Energy Capital invests in the upstream sector of the oil and gas industry in North America.